White People and Racial Passing Essay Example for Free

White People and Racial Passing Essay How does Eugenides put racial passing and gender passing in conversation with each other in his novel â€Å"MiddleSex†? Passing means being hidden. People are trying to be accepted into a world with a different identity from their own. Jeffrey Eugenides’ Middlesex presents passing as something else just to be seen as â€Å"normal† or to be accepted into the society and not get discriminated. Racial passing and gender passing were seen many times in this novel within the characters. Not only were they seen in the novel, they were also seen through two articles that we discussed in class. Those articles were â€Å"Who’s the fairest of them all? † by Jill Nelson and â€Å"Transgender Liberation: A Movement Whose Time has Come† by Leslie Feinberg. Racial passing and gender passing are in relation to each other because they are both showing the sense of people passing for something that in reality they are not. â€Å"Who’s the fairest of them all?† by Jill Nelson claims that black girls and women can never obtain the true ingredient of female beauty in America, which is being white. The article states that a black woman’s natural hair is basically seen as unacceptable. That in order for it to be accepted it should be relaxed, straightened, or some would even have to put weave in. Long and straight hair is what is desirable to the society and it sends the message to black women that because they do not have the silky long and straight hair that they are known to not be desirable. It explains why most black women have extensions and perm their hair to be socially accepted. Even the black models that are out there in the world today do not completely portray a natural black woman. For example, Naomi Campbell has weave in all the time and wears colored contact lenses. The media portrays a certain identity for black women. Nelson says in this article that she cut all her hair off and got so many weird looks because it was not known as â€Å"normal† for black women to walk around in their natural bodies. This article ties into the topic of racial passing and gender passing because black women try to fit in this culture to be accepted and they feel the only way they would be accepted is by changing their look to be looked at as being desirable. The true beauty of what is fundamentally correct in America is whiteness. This is as if they are trying to pass as being white, just as Desdemona in the novel tried to pass as being a different culture just to fit in and to be able to make it somewhere in the society for her family.

Advertisement Manipulation :: essays research papers

Advertising Manipulation   Ã‚  Ã‚  Ã‚  Ã‚  Advertisements are located everywhere. No one can go anywhere without seeing at least one advertisement. These ads, as they are called, are an essential part of every type of media. They are placed in television, radio, magazines, and can even be seen on billboards by the roadside. Advertisements allow media to be sold at a cheaper price, and sometimes even free, to the consumer. Advertisers pay media companies to place their ads into the media. Therefore, the media companies make their money off of ads, and the consumer can view this material for a significantly less price than the material would be without the ads. Advertisers’ main purpose is to influence the consumer to purchase their product. This particular ad, located in Sport magazine, attracts the outer-directed emulators. The people that typically fit into this category of consumers are people that buy items to fit in or to impress people. Sometimes ads can be misleading in ways that confuse the c onsumer to purchase the product for reasons other than the actual product was designed for. Advertisers influence consumers by alluding the consumer into buying this product over a generic product that could perform the same task, directing the advertisement towards a certain audience, and developing the ad where it is visually attractive.   Ã‚  Ã‚  Ã‚  Ã‚  First, a Multi Tap consists of an L-shaped design with four ports to allow for four Playstation controllers instead of the normal two. The Multi Tap is helpful for some Playstation games that allow for more than two people to play. The layout of the Multi Tap advertisement attracts attention when compared to other similar advertisements. The simple, black and white display of the ad stands out when compared to other ads, which are usually bright and colorful. This manner of presenting the information brings about a simplistic alternative to an otherwise complex world. The Multi Tap is then displayed in the center of the ad to draw attention to its unmistakable design. The advertisement makes the readers think that this device is so easy to use; all one has to do is simply plug the Multi Tap into the PlayStation console and start playing. The ad also tells the readers that with less hookup time, the Multi Tap leaves more time to play. The words â€Å"KNOCKOFF MULT I TAPS. NOW YOUR FRIENDS CAN SIMULTANEOUSLY KNOW WHAT A CHEAP BASTARD YOU ARE.† are placed on a black background and emphasized with big, white, bold, capital letters.

Accounting Test 2

Exam Chapters 3,4,7 Student: 1. Which of the following is the correct formula to compute the predetermined overhead rate? A. Estimated total units in the allocation base divided by estimated total manufacturing overhead costs. B. Estimated total manufacturing overhead costs divided by estimated total units in the allocation base. C. Actual total manufacturing overhead costs divided by estimated total units in the allocation base. D.Estimated total manufacturing overhead costs divided by actual total units in the allocation base.2. Which of the following would probably be the least appropriate allocation base for allocating overhead in a highly automated manufacturer of specialty valves? A. Machine-hours B. Power consumption C. Direct labor-hours D. Machine setups3. Which terms will make the following statement true? When manufacturing overhead is overapplied, the Manufacturing Overhead account has a __________ balance and applied manufacturing overhead is greater than __________ manufacturing overhead.A. debit, actual B. credit, actual C. debit, estimated D. credit, estimated4. Daguio Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the total estimated manufacturing overhead was $224,580. At the end of the year, actual direct labor-hours for the year were 18,200 hours, manufacturing overhead for the year was underapplied by $12,100, and the actual manufacturing overhead was $219,580. The predetermined overhead rate for the year must have been closest to: A. $11. 40 per machine-hour B. $12. 34 per machine-hourC. $12. 06 per machine-hour D. $10. 53 per machine-hour5. Crinks Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 11,200 hours and the total estimated manufacturing overhead was $259,840. At the end of the year, actual direct labor-hours for the year were 10,800 hours and the actual manufacturing overhead for the year was $254,840. Overhead at the end of the year was: A. $4,280 overapplied B. $9,280 overapplied C. $9,280 underapplied D. $4,280 underapplied6.Washtenaw Corporation uses a job-order costing system. The following data are for last year: Washtenaw applies overhead using a predetermined rate based on direct labor-hours. What predetermined overhead rate was used last year? A. $3. 55 per direct labor-hour B. $3. 25 per direct labor-hour C. $3. 08 per direct labor-hour D. $3. 36 per direct labor-hour7. A company should use process costing, rather than job order costing, if: A. production is only partially completed during the accounting period. B. the product is manufactured in batches only as orders are received.C. the product is composed of mass-produced homogeneous units. D. the product goes through several steps of production.8. Which of the following characteristics applies to process costing, but does not apply to job order costing? A. The need for averaging. B. The use of equivalent units of production. C. S eparate, identifiable jobs. D. The use of predetermined overhead rates.9. The cost of beginning inventory under the weighted-average method is: A. added in with current period costs in determining costs per equivalent unit for a given period. B. gnored in determining the costs per equivalent unit for a given period. C. considered separately from costs incurred during the current period. D. subtracted from current period costs in determining costs per equivalent unit for a given period.10. The Nichols Company uses the weighted-average method in its process costing system. The company recorded 29,500 equivalent units for conversion costs for November in a particular department. There were 6,000 units in the ending work in process inventory on November 30, 75% complete with respect to conversion costs.The November 1 work in process inventory consisted of 8,000 units, 50% complete with respect to conversion costs. A total of 25,000 units were completed and transferred out of the departm ent during the month. The number of units started during November in the department was: A. 24,500 units B. 23,000 units C. 27,000 units D. 21,000 units11. Diston Company uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 18,000 units in its beginning work in process inventory that were 30% complete with respect to conversion costs.The conversion cost in this beginning work in process inventory was $44,820. An additional 90,000 units were started into production during the month. There were 21,000 units in the ending work in process inventory of the Welding Department that were 10% complete with respect to conversion costs. A total of $677,970 in conversion costs were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places. ) A. $8. 112 B. $8. 300 C. $7. 533 D. $6. 10812.Sanchez Corporation uses the weighted-average method in its process costing system. The Fitting Department is the second department in its production process. The data below summarize the department's operations in March. The Fitting Department's cost per equivalent unit for conversion cost for March was $8. 66. How much conversion cost was assigned to the units transferred out of the Fitting Department during March? A. $480,630 B. $450,320 C. $444,258 D. $510,94013. Designing a new product is an example of (an): A. Unit-level activity. B. Batch-level activity. C. Product-level activity. D. Organization-sustaining activity.14. McCaskey Corporation uses an activity-based costing system with the following three activity cost pools: The Other activity cost pool is used to accumulate costs of idle capacity and organization-sustaining costs. The company has provided the following data concerning its costs: The distribution of resource consumption across activity cost pools is given below: The activity rate for the Fabrication activity cost pool is closest to: A. $1. 65 per machine-hour B. $4. 00 per machine-hour C. $0. 0 per machine-hour D. $2. 40 per machine-hour15. Christiansen Corporation uses an activity-based costing system with the following three activity cost pools: The Other activity cost pool is used to accumulate costs of idle capacity and organization-sustaining costs. The company has provided the following data concerning its costs: The distribution of resource consumption across activity cost pools is given below: The activity rate for the Order Processing activity cost pool is closest to: A. $676 per order B. $780 per order C. $560 per order D. $312 per order16.Bossie Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following data concerning its costs and its activity based costing system: How much cost, in total, would be allocated in the first-stage allocation to the Assembly activity cost pool? A. $196,33 3 B. $209,000 C. $310,000 D. $155,00017. Spendlove Corporation has provided the following data from its activity-based costing system: The company makes 430 units of product S78N a year, requiring a total of 1,120 machine-hours, 40 orders, and 30 inspection-hours per year.The product's direct materials cost is $49. 81 per unit and its direct labor cost is $12. 34 per unit. The product sells for $129. 90 per unit. According to the activity-based costing system, the product margin for product S78N is: A. $4,116. 50 B. $29,132. 50 C. $6,180. 50 D. $5,161. 3018. Wecker Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: Data concerning two products appear below: How much overhead cost would be assigned to Product V09X using the activity-based costing system? A. 157. 87 B. $91,722. 47 C. $10,385. 22 D. $5,485. 5019. The balance in the Work in Process account equals: A. the balance in the Finished Goods inventory account. B. the balance in the Cost of Goods Sold account. C. the balances on the job cost sheets of uncompleted jobs. D. the balance in the Manufacturing Overhead account.20. Overapplied manufacturing overhead occurs when: A. applied overhead exceeds actual overhead. B. applied overhead exceeds estimated overhead. C. actual overhead exceeds estimated overhead. D. budgeted overhead exceeds actual overhead.

Same Sex Marriage Should Be Legal - 1254 Words

a person believes in something different does not mean they are not human as well. The court did notice marriage as a fundamental right. However, they took the position that the fundamental right to marry does not include a right to make a State change its definition of marriage, and that the previous cases dealing with the fundamental right to marry did not provide that anyone who wants to get married has a constitutional right to do so. The dissent concerns were more that the majority opinion was an act of will, not of legal judgment. Under the Constitution, judges do have the power to say what the law is, but not what the actual law should be. Both the majority opinion and the dissenting opinions contain some language of interest†¦show more content†¦It will bring up questions of people of faith because of the conflict of the new law accepting the rights for same sex to marry, but at the same time they can refuse service if they do not accept gay marriage. The system of federalism established by the Constitution provides a way for people with different beliefs to live together in a single nation. People of faith should want to accept people for humans and not as a mean of breaking their religious codes. Religious conservatives should not be alarmed at the fact of same-sex marriage because their views are protected by the Constitution. Marriage is a civil right as well as a religious institution. â€Å" In American politics the concept of equality tends to trump the First Amendment, and the left has already successfully framed marriage as a civil right (The American Spectator)†.Kennedy makes a great point about the amount of time used for cases. In 1954 Brown v. Board of Education case, the justices outlawed racial segregation in public education, but the opinion was later read by judges to strike down racial segregation broadly in city parks, swimming pools, bus stations and elsewhere. Obergefell v. Hodges is not quite the Brown v. Board of Education for gay rights. State sponsored oppression of gays and lesbians in society is not as severe as what African Americans endured in the 1950s. Because of the enormous progress made in recent decades, ObergefellShow MoreRelatedSame Sex Marriage Should Be Legal1288 Words   |  6 Pages Marriage is not precisely the same as it used to be interpreted. For example, women used to be their husband’s property. Sometimes the women were forced to marry whoever their parents wanted them to marry and most of the time they couldn’t leave the marriage. Nowadays women have more freedom. They can vote, they can run their own business, and they can marry whichever man they want to. The laws change as the people’s mind change. As they get more comfortable with the idea, they become more openRead MoreSame Sex Marriage Should Be Legal Essay1475 Words   |  6 PagesSame sex relationships relate to when a man or woman are attracted to someone of the same gender of themselves. It is being rejected as same gender marriage denies the obvious purpose between a man and a women which is procreation (Richardson-Self, 2012). Denying same sex couples the legal right to get married, could mean that they are being denied their basic human rights to enjoy human benefits (Richardson-Self, 2012). However, the opposing view is that if gay marriage was granted the legal rightsRead MoreSame Sex Marriage Should Be L egal1403 Words   |  6 PagesSame-Sex Marriage â€Å"I now pronounce you†¦Ã¢â‚¬  At some point in a person’s life, they have heard or will hear those words. What follows, however, has changed somewhat over the years; although, the commitment has remained the same. Those words historically indicate that until the death of a spouse, that couple shall remain together. Who should be able to determine whom that spouse is for that person? Some people judge others for their sexuality and how it is affecting them, but they never stop andRead MoreSame Sex Marriage Should Be Legal1144 Words   |  5 PagesGay Marriage There are many issues the revolve around same-sex marriage. Many issues like: Whether same-sex should be legalized and should there be an amendment on same-sex marriage? There are multiple side to view this, but gay marriage but in my opinion gay marriage is socially accepted. it should be legal and it does affect American teens in a broad spectrum of ways. There have been a lot of issues on whether or not same-sex marriage should be legal or not. According to Burns, â€Å" The unionRead MoreSame Sex Marriage Should Be Legal998 Words   |  4 PagesSame sex marriage ought to be legalized on the grounds that it is uncivilized and unmerited. Marriage is a commitment between two people that cherish one another. In almost every country and culture, marriage is a commitment of loyalty and love. Marriage is an authority contract gathering two individuals together, furnishing them with profits of holy matrimony such as tax cuts and clinical privileges. The debate throughout most countries today is whether or not the rights of these profits and commitmentsRead MoreSame Sex Marriage Should Be Legal1659 Words   |  7 Pages Same-sex couples can hardly remember a time where they were not fighting for their right to marriage in the United States. After several court cases, California Proposition Six, and their struggle against the Defens e of Marriage Act (DOMA), same-sex couples found their way into U.S. society. Many misguided studies appealed to those opposing same-sex marriage, but after several years of integrating in society, same-sex couples found the support they were looking for. Before the Supreme CourtRead MoreSame Sex Marriage Should Be Legal899 Words   |  4 Pages In the United States, same sex marriage became legal nationwide on June 26, 2015, when the United States Supreme Court overruled the court in favor of same sex freedom and marriage. The victory of same sex marriage came to be recognized from the Obergefell v. Hodges case which was submitted when an American Ohio man was denied and regretted to get his name on his late husband’s death certificate. Same sex marriage has been a controversial social issue in the United States for several decades. SinceRead MoreSame Sex Marriage Should Be Legal1491 Words   |  6 PagesSame sex marriage is one of the most debatable issues in the modern world. Marriage has been accepted as the social union between a man and a woman for the past thousand years. Homosexuality was viewed with scorn, and marriages among same sex couples were prohibited in most cultures across the globe. However, gay relationships are slowly obtaining acceptance, as homosexuals have come to be expressive in fighting their rights to marry in the early 90’s. As homosexuality grows in acceptance in theRead MoreSame Sex Marriage Should Be Legal892 Words   |  4 PagesLove Same sex marriage is now allowed in all states across the country. But it took years and years for this â€Å"issue† to be finally laid to rest. The first state to legalize same-sex marriage was Massachusetts in 2004. There was not a last state to legalize gay marriage. The supreme court realized how many states were now legalizing it, so they just had all of the states left legalize it as well. ProCon.org supplies information that â€Å"Twenty-six states were forced to legalize gay marriage becauseRead MoreSame Sex Marriage Should Be Legal2253 Words   |  10 Pages1776). The recognition of same-sex marriage is an issue influenced by numerous factors, and debates continue to arise over whether people in same-sex relationships have the right to marriage. Marriage provides many benefits, legally, financially, and personally. Same-sex marriage can open up those in same-sex relationships to tax benefits and financial demands comparable to those afforded to and required of peo ple in opposite-sex marriages. Same-sex marriage also gives them legal protections, such as

An Enquiry Concerning Human Understanding By David Hume

David Hume, the Scottish empiricism philosopher who endorses on all knowledge is obtained from sense-experience and he practices moderate skepticism for his entire academic life. Hume’s moderate skepticism refers to abduction today in which it means inference to the best explanation. To it another way, he means credible belief is possible and genuine knowledge could be inaccurate. In the â€Å"section IV- Sceptical Doubts concerning the Operation of the Understanding† part two of the book â€Å"An Enquiry Concerning Human Understanding†, David Hume intends to clarify about how induction (moral reasoning) works in the knowledge of cause and effect. Accordingly, he shares â€Å"[i]n reality, all arguments from experience are founded on the similarity, which we discover among natural objects, and by which we are induced to expect effects similar to those, which we have found to follow from such objects† (p.23). Based upon his writing, Hume explains most peopl e tend to reason a particular instance and expect the future outcome depending on their past experiences; they make conclusions with inductive reasoning. However, the induction has limitation because it doesn t guarantee future instances will resemble previously observed ones. An example of induction argument: Previously, the temperature of mid summer in California has been always above 100 degrees Fahrenheit. Therefore, the temperature of mid summer in California will always be above 100 degrees Fahrenheit. This argument usesShow MoreRelatedAn Enquiry Concerning Human Understanding By David Hume Essay931 Words   |  4 Pagesreasoning (rationalism) has been the subject of academic debate among scholars. However, we will only focus on the limitation of pure reasoning, compare both David Hume and Rene Descartes’ views of knowledge, and decide whose belief works better to attain genuine knowledge in this paper. In the book â€Å"An Enquiry Concerning Human Understanding†, David Hume specifically clarifies on how moral reasoning (induction) works in the knowledge of cause and effect and he shares on its limitation. Accordingly, he writesRead MoreAn Enquiry Concerning Human Understanding By David Hume2287 Words   |  10 PagesIn Section IV of An Enquiry Concerning Human Understanding by David Hume, Hume provides argument that will outline that any conclusions about the future based on past experience are limited to being just probable suppositions, because all arguments that claim to know the future impacts of an object’s â€Å"secret powers† (Hume 21) are based in assumption. By â€Å"secret powers† (Hume 21), Hume means those abilities of an object, such as a loaf of bread, to â€Å"support†¦ a human body.† (Hume 21) The bases for Hume’sRead More Enquiries Concerning Human Understanding by David Hume Essay1279 Words   |  6 Pagesof thought in the human mind, and many different reasons for this origin have been put forth. As a philosopher, it is only fitting that Hume would propose his own framework for human thinking. For Hume, perceptions are developed either as the understanding of the outside world, or as recollections of these events or alterations of these memories within the mind ¹. This distinction is important, as it allows Hume to differentiate perceptions as true or false notions. With this, Hume puts forward hisRead MoreIn An Enquiry Concerning Human Understanding by David Hume, the idea of miracles is introduced.1300 Words   |  6 PagesIn An Enquiry Concerning Human Understanding by David Hume, the idea of miracles is introduced. Hume’s argument is that there is no rational reason for human beings to believe in miracles, and that it is wrong to have miracles as the building blocks for religion. It is because the general notion of miracles come from the statement of others who claim to have seen them, Hume believes that there is no way to prove that those accounts are accurate, because they were not experienced first-hand. In orderRead MoreAn Inquiry Into Human Enquiry1228 Words   |  5 Pagesinto Human Enquiry In An Enquiry Concerning Human Understanding, David Hume argues for the division of human enquiry into two types: relations of ideas and matters of fact. Relations of ideas are certain and may be found through only thinking, while matters of fact are uncertain and depend on the world around us (Hume 18-19). I will argue in this paper that Hume’s view on human enquiry is conceivable but that there remain some reasons to doubt the accuracy of his categorization. Hume arguesRead More Cause and Effect in David Hume’s An Enquiry Concerning Human Understanding851 Words   |  4 PagesCause and Effect in David Hume’s An Enquiry Concerning Human Understanding In An Enquiry Concerning Human Understanding, David Hume states, â€Å"there is not, in any single, particular instance of cause and effect, any thing which can suggest the idea of power or necessary connexion† (Hume, 1993: 41). Hume establishes in section II that all ideas originate from impressions that employ the senses (11). Therefore, in order for there to be an idea of power or â€Å"necessary connexion,† thereRead MoreDefending Hard Determinism Against the Strongest Objections Raised Against It1161 Words   |  5 Pagesand defined description of both hard determinism and its eventual nemesis indeterminism. Based on these definitions there will be a personal attempt at denying hard determinism. This will be accomplished through the introduction of David Hume and his radical philosophy on causality and the relation this may have on hard determinism, as well as the various possibilities it may distinguish. Furthermore the Causal Principle will also be introduced and slandered in its incapabilityRead More Comparing Knowledge in Descartes’ Meditations on First Philosophy and Hume’s An Enquiry Concerning876 Words   |  4 PagesComparing Knowledge in Descartes’ Meditations on First Philosophy and Hume’s An Enquiry Concerning Human Understanding, Rationalists would claim that knowledge comes from reason or ideas, while empiricists would answer that knowledge is derived from the senses or impressions. The difference between these two philosophical schools of thought, with respect to the distinction between ideas and impressions, can be examined in order to determine how these schools determine the sourceRead MoreEssay on David Humes Theory of Knowledge858 Words   |  4 Pagesbelonged to David Hume, a Scottish philosopher. Hume was born on April 26, 1711, as his family’s second son. His father died when he was an infant and left his mother to care for him, his older brother, and his sister. David Hume passed through ordinary classes with great success, and found an early love for literature. He lived on his family’s estate, Ninewells, near Edinburgh. Throughout his life, literature consumed his thoughts, and his life is little more than his works. By the age of 40, David HumeRead MoreDescartes and H ume: A Look at Skepticism and Finding Stability915 Words   |  4 PagesMeditations on First Philosophy, Descartes concludes that in order to achieve this stability, he must start at the foundations for all of his opinions and find the basis of doubt in each of them. David Hume, however, holds a different position on skepticism in his work An Enquiry concerning Human Understanding, for he criticizes Descartes’ claim because â€Å"‘it is impossible,’† (qtd. in Cottingham 35). Both philosophers show distinct reasoning in what skepticism is and how it is useful in finding stability An Enquiry Concerning Human Understanding By David Hume The Medium to Grasp the Future In Section IV of An Enquiry Concerning Human Understanding by David Hume, Hume provides argument that will outline that any conclusions about the future based on past experience are limited to being just probable suppositions, because all arguments that claim to know the future impacts of an object’s â€Å"secret powers† (Hume 21) are based in assumption. By â€Å"secret powers† (Hume 21), Hume means those abilities of an object, such as a loaf of bread, to â€Å"support†¦ a human body.† (Hume 21) The bases for Hume’s claims are in the question he posits asking, â€Å"What is the foundation of all conclusions from experience?† (Hume 20) In other words, Hume seeks to find the substance or grounding of conclusions that are formed†¦show more content†¦A means by which the barrier that separates the past from the future can be broken down thus giving inferences or conclusions from experience grounding in reason as opposed to being just probable statements. He goes on to provide the reason for which arguments that claim to â€Å"foresee†(Hume 22) are limited to probability. His reasoning is that these arguments intend to prove that the future will look like the past, yet do so by assuming that â€Å"the future will be conformable to the past†(Hume 23) thus plaguing them with circuitous logic. (Hume 23) What Hume means is that the point in question which is sought to be resolved, is done so by assuming that this point will hold true, thus using the assumption that something will hold true to prove that this same thing will hold true. Additionally, this argument’s grounding in an assumption which may or may not hold true, makes it probable due to its foundation built on a probable factor, almost like a tower built on sand. Hume’s negative argument for reasoned foresight based in experience hinges upon the claim that these arguments lack a â€Å"mediumâ⠂¬ (Hume 22) by which the future can be shown to be conformable to the past, stating that these arguments are based in assumptions, which make them nothing more than probable. (Hume 20-24) This is a very strong argument by Hume because he calls for a positive argument that provides a â€Å"medium† (Hume 22), which can perform the vital task of

How Companies Maximize Profits - 1591 Words

Every company aims at maximizing its profit. This can be achieved by maintaining quality of services and goods, providing appropriate supply, and analysing consumers’ demands. However, there are number of economic factors that hinder this operation. These factors are government regulations, rate of interest, exchange rate, trade cycles, general price level, employment and income, economic growth, and supply and demand. Economics consists of macroeconomics and microeconomics. The former analyses national economy and offers knowledge about the business environment (Samuelson Nordhaus 2010, p.5). Macroeconomics centres on the overall economy rather than the fine specifics (Arnold 2011, p.). Here, there are a number of models that explain the relationship between international finance, international trade, investment, savings, inflation, unemployment, consumption, output, and national income. Trade cycles cause fluctuations in costs of services or goods. These cycles include recovery, depression, recession, and prosperity. The managing director will have to consider aspects such as deflation and inflation and macroeconomic policy (fiscal and monetary) to run the company efficiently. For instance, banking facilitates fiscal and monetary policies that affect consumers and businesses as well; that is, the policies influence inflation and economic activities (Arnold 2011, p.252). The latter examines the market behavior of firms and individual consumers in order to understand theShow MoreRelatedDifferentiating Between Market Structures Essay1077 Words   |  5 Pagesinterdependence among firms in determining pricing and output to maximize profits. The author of this paper will cover: the advantages and limitation of supply and demand identified in the simulation, the effectiveness of the organization in which the author knows, and how the organizations in each market structure maximizes profits. The simulation looks at all four types of market structure within the East-West Transportation Company. The four divisions operate within each of the four market structuresRead MoreAirline Pricing And The Game Of Yield Management1107 Words   |  5 Pagesdecades, the airlines are looking for the possibility to improve their yield management to maximize their profit. In order to achieve it, they have started to develop the yield management analysis, to understand the best time to sell the flight tickets with higher or lower prices, so, helping them to decide properly. How can airline companies improve their yield management in order to increase their profit without demand analysis? According to the OpenStax College, economists have defined the termRead MoreManagerial Economics : Assignment Questions1409 Words   |  6 PagesThe Honest Company, with Christopher Gavigan. Alba and Gavigan set up their site so families can choose what kinds of non-toxic, all-natural products they d like to use and get them in a bundle. Families can choose all kinds of products from food to hygiene necessities and cleaning supplies. Suppose they are thinking of expanding their business into five domestic markets: Phoenix, Dallas, Chicago, New York, and Atlanta. Assume their primary goal of business is to maximize economic profits, althoughRead MoreShareholder Theory Vs. The Competing Ideas Of Stakeholders Theories946 Words   |  4 Pagesthe sole responsibility and how these action may affect business as a whole. Finally I will take time to examine each and conclude with a personal justification to each. To make a profit, that s what most would say is the end goal in every business for the most part. Shareholder theory also related with stockholder theory providing a main emphasis on maximizing profit. Maximize profit within the corporation with the the help of the appointed executives within the company. This theory avoid the aspectRead MoreTootsie Roll Loan1548 Words   |  7 Pagesbe preparing a loan package to maintain ultimate company performance, maximize the company’s profits, and increase the shareholder’s value. Tootsie Roll Industry Inc. will be applying for a loan that will increase the company’s total liability by $17,449.50. A perfect loan package includes a concise executive summary that focuses primarily on the ratio analysis of the financial statement, justification for the loan, and explanation of how the company intends to use loan. The corresponding ratio calculationsRead MoreMaximizing the Corporate Objective with the Stakeholder Theory103 9 Words   |  4 Pagesdecisions so as to take account of the interests of all stakeholders in a firm, including not only financial claimants, but also employees, customers, communities, and governmental officials. Because the advocates of stakeholder theory refuse to specify how to make the necessary tradeoffs among these competing interests, they leave managers with a theory that makes it impossible for them to make purposeful decisions. With no clear way to keep score, stakeholder theory effectively makes managers unaccountableRead MoreDividend Decision : Profit Decision1035 Words   |  5 Pagespolicy that the company plans in regard to earnings for distribution as dividends to shareholders. Dividend decision determines the ratio of earnings between shareholders and retained earnings. †¢ The dividend decision is a decision about the amount and timing of any cash payments made to the company’s shareholders made by the directors of a company. The dividend decision is very important for the present day business world. †¢ The dividend decision play an important role in the company because it mayRead MoreBranding, Pricing, and Distribution1528 Words   |  7 Pagescompleted marketing strategy. The ultimate goal is to reach a successful culmination of all three tiers that will have a successful impact in introducing the brand, pricing it correctly, and forming a distribution model that will maximize the competitive advantage to the company or service in question. This report will outline the steps in developing a local branding outline as well as an international branding strategy .The idea behind branding is to differentiate your product, value, quality or serviceRead MoreThe Clash Between Management And Ownership1311 Words   |  6 Pagesdirectly, therefore a separation of ownership and control is needed. A managing team will run the corporation and this will easily lead to conflicts between the interest of the management and the shareholders. In this essay we will look at how the conflict s arise and how to mitigate these problems with different policies. The clash between management and ownership is called an agency problem. 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Accounting Auditing and Assurance

Questions: a). Discuss the steps that you need to consider before accepting to do an audit of the KGC Ltd. mine in PNG? b). If the inherent risk of the KGC Ltd. mine in PNG is estimated as 80% and the control risk and detection risk are estimated at, respectively, 10% and 50%, should your audit firm accept the role of doing an audit of the KGC Ltd. mine in PNG? (Explain) c). List and discuss what should be included in an audit program for the KGC Ltd. mine in PNG. Your program should include general coverage plus items 1 to 8, above. d). If KGC Ltd. revalues its major PPE assets from historic cost to fair market value, what are the major concerns for the auditor and what tests should the auditor perform to resolve those concerns? e). Review of the future prospects of the mine f). In a triple-bottom line addendum (i.e. addition) to their GPFS, KGC Ltd. described their operations as being socially responsible and environmentally friendly. Are you willing to sign-off on that statement as being true and fair? (Explain) g). KGC Ltd. is hoping to raise $5 billion AUD, KGC Ltd. via a share issue. In the share prospectus,3 KGC Ltd. that its PNG operations are its principal asset and described those operations as low risk and that it expected them to be indefinite (permanent) in duration. Are you willing to sign-off on that prospectus as being true and fair? (Explain). Answers: a): Before conducting the audit of Karrick Gold Copper Ltd mine operating in the Papua new Guinea , the first and foremost task is to look into the matter that whether the operating company are in compliance with the Auditing standard of Australia. There are few conditions which are to be met before conducting the audit by the auditors. The financial statement are prepared using the framework of the financial reporting of the company and the auditor is required to determine the acceptability and accuracy of the financial reports. He is required to take into account the nature of the entity and the evaluation of the financial statements as per the rules and regulations prescribed it. The auditor should be accessible to all the indispensable information which is needed in carrying out the audit. The reporting of the financial data are free from the error or any fraud. The auditor should also investigate the company in terms of every factors and evaluate it regarding its potentiality to pe rform its work. The auditor is required to look into the issues relating to .the confidentiality and whether there is any interest conflict. Evaluation of all these matters should be performed and the documentation of the Same should be done. The ethical matters should also be looked into. The above enquiries would enable the auditor in concluding that firms integrity is not being questioned which might create risk which is not acceptable. The auditors task before accepting the audit is to determine whether the firms does not risk itself when it comes to ethics. When the several threat are discovered , the auditors should not decline the task of auditing and should be able to safeguard the measures which reduces the risk level and that can be accepted (Ahammed 2015). The auditors are also required to make the client acquainted that they are to make the statement in accordance with the scenario presented to them. If the auditor is asked to disclaim the opinion of financial statements evaluated, in that case the agreement to engage in the auditing should be turned down and also if the framework of the financial statement is not acceptable and is not in accordance with the guidelines. KGC ltd has been held responsible for not being environment friendly and it has exposed to the ethical threats and so before conducting the audit ,the auditor should safeguard the measures to reduce the risks or the threat to an acceptable level. Therefore, it is very crucial for the auditors to do the evaluation before engaging in the new engagement. b): First of all, we get to define the risks associated with auditing. Inherent risk exists when the organization lacks internal control and there is a material misstatement .KGC Ltd has inherent risk of 80 % which is quite high indicating that it lacks internal control. Here, the auditor needs to directly evaluate the account balances and he cannot rely on the actions of the client. The auditors need to assess the risks by applying the procedures to evaluate the clients and the environment in which it operates. The control risks it at its low at 10 % which refers to how the control has been designed and operated and the auditor must investigate and look for evidence supporting it. The detection risks stands at 50 % and it implies that there is half a chance that the auditor would not be able to detect the materiality in the financial statements or any account balances and he would be relying on the information provided by the client for detecting the additional uncertainty (Ali 2016). According to the audit risk model : Audit risk = Detection risk * Inherent risk * Control risk =.5 * .8 * .1 = .04 = 4 % Here , the auditor verifying the financial statements has 4 % probability that he would be giving a wrong opinion of the financial statements evaluated. The percentage is low which is acceptable and reasonable (Griffiths 2012). Before the audit firm conduct the auditing of KGC Ltd , he should take into account all the risks but he has no control over inherent risks which needs be prcised as it has direct impact on the auditing procedures followed and so the auditing procedures followed should be substantive. The auditing firm need to perform some checklist before conducting the audit : Audit firms need to assess and judge the relevance of the audit risks before applying the auditing procedure as conducting the audit tasks is quite expensive and time taking as well and the auditor can extend the auditing the auditing procedure if demanded. Though the inherent risk is quite high , the desired audit risk level has not exceeded and it should be accepted. The audit firm should accept the role of auditing the KGC Ltd. c): Audit program is a procedure followed by the auditor to confirm the validity of the documents incorporated in conducting the audit and also to ensure that the plans were in compliance with the regulations. The criterias are to be set and accordingly the auditing procedures are to be followed .The audit evidence on the basis of which the auditors form the opinion of the financial statement are to be determined. The auditor should prepare the audit program considering several points which are as follows : The first and foremost point which an auditor should look into in planning for audit is the size and nature of the business. The entity to be audited is small or medium. This would enable to perform the auditing and plan and executing in accordance with the accounting standard which gives guidelines specific to that particular entity for which the audit is being performed. The KGC Ltd could be sought as medium entity with its total book value of $ 21.5 billion and the evaluation of the same should be done. Details of various audit work to be performed forms the list of audit program content , such as the balance sheet and the profit and loss statement of the entity should be verified. The tax payment to the PNG government and the royalties to the mine owner should be of the same value in the account of balances as provided by the company. The time which would be employed to conduct the audit task should be also framed. Here, the entity is being accused of being not environmentally friendly and it poses ethical threat to it and it involves estimated costs of $ 60 billion to remediate it and the company claims its annual benefit to be much higher to offset the harm. The audit firm needs to invest considerable amount of time depending upon the outcome of the case initiated by the ecological group (Flammer 2013.). The audit report to be prepared after having a detailed inspection of all the relevant documents and auditor can also review the previous years documentation to understand the way of performing the tasks So, with reference to the KGC Ltd we can see that several points are to be check listed and then included in the audit program. d): The revaluation of the assets of the firm from the historic costs to the fair market value is done by the expert team and so if the revaluation is done based on the reasonable fact then auditor should accept the revaluation . The property , plants and equipment are to be revalued at fair market price. The PPE are carried from over year to year as they are not held for sale. These assets are accounted for only once and they are closely controlled. In this case , the auditor should understand the clients and the environment in which it operates and any risks associate with the property or plant. The internal control over the property should be a concern to look after. The expenditure and the depreciation should be understand whether there is any manual mistakes . The auditors should follow appropriate procedure to assess the risks. He should perform the physical verification of the assets and to identify the costs there should be proper system. The auditor understand that the assets ar e revalued when they can be measured reliably. The auditor should consider the basis on which assets has been revalued and the evidence supporting the valuation should be adequate and reasonable. The auditor needs to analyze the economic benefit of the assets and when it does not hold any benefit , then only the assets are revalued. There should not be any material difference between the carrying value and fair value of assets (Gashi and Shala 2015). The satisfaction of the auditors considering the above facts should be adequate. e): The future prospects of the mining firm does not seems to be bright and this would be supported by many factors provided in the information. The firms license to carry out the mining activities from the PNG government is about to expire in eight years and it cannot explore the additional ore of reserves hence no chance of propelling. The quality and quantity of the ore extracted is not so much commercially viable . Moreover , KGC Ltd has been accused by several ecological group of being environmentally irresponsible as there was secretly dumping of 5 million liter of ore waste which could devastate the survival of human as well as animal. So , the mining firm is exposed to ethical threats. The political conflict might pose a threat to the existence of the firm in the Papua new guinea area as the tribals borders are closely related to the papua area and there is the possibility of the Indonesian army spilling the star mountain range area where the mine operates. The above factors explains the negative prospects of the firms. On the other hand there are other factors which shows some positive prospects. The people residing in the star mountain range depend on KGC Ltd for their livelihood and there are no other source of employment for them. Would it be closed the level of unemployment would rise to 95 % as compared to 32 % currently. KGC Ltd is the sole producer of water processing plants and operator of hospitals , health centers and school. This case verdict should be in favor of the firm because shutting it down would lead to devastation of human life. So the prospects of the mining firm KGC Ltd is a mixture of positive and negative prospects. f): The statement of KGC Ltd describing themselves as environmentally friendly and socially responsible could not be sign off as being true and fair. Some ecological group has put the allegation on the firm of being irresponsible and reckless when it comes to environment. The secret dumping of 5 million liter of ore waste into the river on which the population of village depends to draw drinking water and do the fish hunting was the reason of its being polluted and unfit for drinking and any other purposes. The mining and extracting process of ore and the dumping of the waste was not in favor of moral and ethical health of the firm. The statement made by the firm could not be justified in light of the above facts. g): Issuing of shares to raise $ 5 billion Australian dollar ( AUD) by KGC Ltd is how far fair can be depicted from the discussion made below : The prospectus containing the proposed business venture states that firms principal assets is its copper mine operating in Papua New Guinea is quite fair because major activities are in process at that particular place .The operations are expected to be permanent and at low risk which is a doubtful fact as the ongoing court case imposed by some ecological group makes the duration of the business operations uncertain and also the license from the PNG government to continue its operation expires in eight years and moreover extraction of lead ore is not viable commercially in terms of quality as well as quantity. So all these facts and factures does not make the future so fruitful for the company. Investors seeking to invest for long term and those who are risk averse would not be interested to invest in this company whereas the investors who are likely to take risk and are interested in short term investment might be willing to investing in this mining firm. The prospectus contains the detailed information on the basis of which investors can evaluate the companys financial health. The investors does not seem to be making a positive view in investing in the shares of the firm (Gifford 2012). Reference : Ahammed, K.F., 2015.GOVERNANCE IN SUSTAINABLE PUBLIC PROCUREMENT(Doctoral dissertation, INSTITUTE OF GOVERNANCE AND DEVELOPMENT, BRAC UNIVERSITY). Ali, A.M., 2016. 1MDB: The Financial Accountings Question of Going Concern.Journal of Public Administration and Governance,5(4), pp.142-162. Flammer, C., 2013. Corporate social responsibility and shareholder reaction: The environmental awareness of investors.Academy of Management Journal,56(3), pp.758-781. Gashi, M. and Shala, N., 2015. Preconditions that Affect in Increasing Control Effect and Increased Chance for Tax Fraud Detection.European Journal of Sustainable Development,5(1), pp.83-90. Gifford, J., 2012. Effective shareholder engagement: The factors that contribute to shareholder salience. InThe next generation of responsible investing(pp. 83-106). Springer Netherlands. Griffiths, M.P., 2012.Risk-based auditing. Gower Publishing, Ltd.