My Personal Reading History Essay Example

My Personal Reading History Essay When I was a younger I don’t remember if I was read to or not, but I read a lot of books. I enjoy reading books because they allow me to reach new heights in my imagination. At my age many kids say that reading is boring and is for losers. I think it’s cool to read and will continue to read throughout my life. I have read many different types of books from fiction to biographies. The longest book I ever read was a book called Dragon Rider by Cornella Funke. It was five hundred and thirty five pages! When it comes to reading I am a superstar! When I’m reading I am able to get a moral lesson from what I read, so it ends up helping me in the long run of my life I have had numerous amounts of positive reading experiences, but I haven’t really had a lot of bad reading experiences. One of those times was when I was in seventh grade and my class was reading â€Å"A Midsummer’s Night Dream† by Shakespeare. The vocabulary was very was difficult to understand because it was old English and we had to learn an almost new vocabulary compared to the one I already knew. I usually can understand what an author is trying to get across but I couldn’t really grasp the meaning this particular time. We will write a custom essay sample on My Personal Reading History specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on My Personal Reading History specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on My Personal Reading History specifically for you FOR ONLY $16.38 $13.9/page Hire Writer It took me a while to get it, but I understood in the end. Now, I challenge myself when it comes to old English plays because I like to see how well rounded I am in all types of writing and reading. Even though this was a difficult task for me when I was reading, it was also positive because it challenged me to stop and really pay attention so that I was able to see the real moral of the story and understand the text. The ability to understand old English got easier for me over time and now it’s one of the things I excel at when reading. Even though the experience was negative, it gave me positive input and made me a better reader. My upbringing has affected me a lot as a reader. I was alone a lot, so I picked up books to read. As a child I just liked fantasy so I would read a lot of fiction books. Also, I think my mom used to read to me and she encouraged me to read when I could. She also taught me to finish something if I started it, and that carried over to my reading. If I start reading a book I always finish it and do my best to understand it. So, she instilled what I know about reading and she influenced the way I read. She always told me, when I was younger, to pronounce my words right so that when I get older I would pronounce my words right. All that she has said to me and taught me when I was coming up as a younger child helped me get to the level of reading I am on today and also to the level of understanding I have of all the words I read. Without her encouraging me in this way I would have had problems understanding things that I read and wouldn’t be as smart as I have grown to be. I am very thankful of how I was brought up as a kid. When I’m reading, it doesn’t really matter where I read. When I’m reading I go into a different world and get to a place where I feel as if I’m part of the story and can relate to the main character and what he or she is going through. Also, when I’m reading I think the best place for me would be where it’s quiet because I find it easier to concentrate in silence. I also read better when I’m upset because it gives me an outlet to release anger and allows me to get my work done. All throughout my life, I’ve had many good experiences reading. When it comes to reading, for me, good reading just comes naturally.

Jane Bitzi Johnson Miller candidacy and election campaign.

Jane Bitzi Johnson Miller candidacy and election campaign. Jane â€Å"Bitzi† Johnson Miller is running for election in Texas and she is considered to be a worthy opponent. Her chances of winning are rather high as she is a republican and is the granddaughter of former governor Joe â€Å"Big Daddy† Johnson.Advertising We will write a custom research paper sample on Jane â€Å"Bitzi† Johnson Miller candidacy and election campaign. specifically for you for only $16.05 $11/page Learn More As she was born in Texas and lived all her life there, she is very well aware of the matter of things and political atmosphere that is present in Texas. She is divorced and is a mother of two children. This is an important point because it means that she has great managerial skills since she is able to control and raise two children, being a single parent. The fact that she had a software company in Dallas in 1993, and was able to raise $2.5 million by selling it to â€Å"Dell†, proves that she knows how to organize and develop a company. These skills are very much needed in running Texas and can prove to be extremely beneficial in her campaign. She has shown to be very patriotic and is determined to create best conditions possible for her fellow Americans. Cultural and Regional Support Jane Miller will meet different support in parts of Texas according to people’s values and beliefs. From previous elections it is possible to assume that the northern part of Texas will support Jane because their preferences are republican. The southern counties are mostly democratic, so she is bound to meet some opposition there. As the majority of Texas has previously elected republican candidates, there should not be any doubt or worry that she will be successful in her campaign. The South part borders with Mexico and this can be problematic because the Hispanic population has somewhat shifted their views from republican to democratic (Stiles, 2010). This is due to a more lenient immigration p olicy that democrats have been offering in the past election campaign. It would prove beneficial for Jane Miller to include a reform or policy change that addresses the issue. If she is able to have the support of people with Mexican background, she will greatly increase her chances of winning the election. At the same time, it is important she stays true to her republican beliefs and does not get involved in the immigration issue too deep. This could be detrimental to the rest of Texans’ views and they could become disappointed with Miller. She must stay very culture oriented because Americans value their heritage and unique origins. The fact that she has lived in Texas for a long time will help her in determining cultural specifics and traditional preferences. Demographic Support The North East part of Texas is most populated, so the amount of votes will greatly exceed those of the South and West. As Texas is a second largest state, the amount of people living in the indust rial area is significantly higher (Nagengast, 2009). The determination should focus on communicating to people who want to get involved with the developing regions.Advertising Looking for research paper on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More People who are looking for employment could also be targeted, as the mostly populated area of Texas has well established corporations and businesses. Another possible avenue could target construction and western parts of Texas because infrastructure is much needed in some areas and housing can sometimes become problematic, especially in the present economy. Most likely, white and Hispanic population of Texas will have biggest participation numbers and support. This will be due to the American beliefs in freedom and human rights and Hispanic population is very much interested in the benefits that can be offered for implementation and adaptation, as well as future development within the American society. Campaign Themes The campaign will focus on three particular themes- education, employment and development of heritage sites and programs. As Education is one of the key goals of the modern world, the school system, as well as higher educational institutions must be supported. Primary focus should be on schools, as this is where children will determine their future goals and ambitions. The school system must provide a high variability of courses and information, so that students are able to try different fields and choose one that best suits their talents, skills and interests. As schools have higher stress level because children are younger and are not as determined as older students, teacher could be promised an increase in salary or benefits. A higher budget could be offered for better equipment and materials. For colleges and universities a better loan system and payoff management could be beneficial for graduates. Contracts with businesses and corpor ations could present part time employment during studies and right after graduation. The younger generation should be targeted because the future lies with modern technologies and further advances in sciences. Employment is the second theme of the campaign and is also very important. The target audience for this division should be older population, as people who are newcomers to the country or those who have lost their jobs due to the economic crisis will be looking for employment. Areas with lower social class should be a priority, as people are struggling there and it is often hard to get involved in a certain profession. Social programs that are linked to businesses could be beneficial, as people will be at least partly employment, with a potential for future hiring. Development and support of heritage sites and programs is the third theme and will target people of all cultural backgrounds. A large portion of society rests on people’s beliefs and traditions and is directly linked to their interests and professions.Advertising We will write a custom research paper sample on Jane â€Å"Bitzi† Johnson Miller candidacy and election campaign. specifically for you for only $16.05 $11/page Learn More When people are involved in something they like doing and which is close to their native background, they will produce higher output. This part of campaign will target all ethnic groups, including Americans, Native Americans, Hispanics, Latinos, African-Americans and any other groups that are present in the region. Local public centers and better funding to social programs will get people involved in their community and strengthen people’s morals. Win or Lose? According to the article titled â€Å"Texas Governors Race Goes National as Parties Eye Long-Term Gains† there is some concern that people might have democratic views. The key to targeting both republicans and democrats is to try and unite the interests. Prev ious elections have shown that â€Å"Perry was leading White by 46 percent to 39 percent, with 8 percent undecided† (Khan par. 2). This proves that people’s views are starting to merge and so, a strategy that can satisfy interests of the two groups will be increasingly successful. Another article, â€Å"Texas governor candidates Bill White, Rick Perry clash over schools† shows that people are very much concerned with the education question (Stutz, 2010). As this is one of the themes that will be a major focus of the campaign, it should yield positive results. A very significant topic is discussed in an article titled â€Å"Has a Democrat Got a Chance of Becoming Governor of Texas?† and is very much related to the issue at hand. According to mentioned statistics, the republicans are in greater lead over democrats and thus, they should be the primary focus of the campaign (Hylton, 2010). People’s views do not change overnight and usually, voters stic k to something that has been checked by time and proved to be successful for the majority. Considering all of the above, Jane Miller has a very high chance of winning the election. Rumors If there were reports of the opponents’ domestic violence it would be important to examine the circumstances. If they are substantiated and proven, people should know about it. No one has the right to violate rights, freedoms and personal safety of another person. The population of Texas has the right to know such significant information about their candidates, as this can very much reflect in the way they will govern. If they are aggressive and unable to control their emotions and actions, they can be an unreliable leader who will act on a whim and not in the interests of the public. In case the matter is just a rumor and has no proof, it would be unwise to mention and make an issue at the campaign, as people might think that the candidate is blowing things out of proportion. Such person wo uld be an unwanted governor because they will base their knowledge on every rumor and this will lead to actions based on lies and unvalidated material. References Hylton, H. (2010). Has a democrat got a chance of becoming governor of Texas? Web.Advertising Looking for research paper on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More Khan, H. (2010). Texas governors race goes national as parties eye long-term gains. Web. Nagengast, C. (2009). Almanac of American demographics. Bloomington, United States: Colin Nagengast. Stiles, M. (2010). Texas governors race maps. Web. Stutz, T. (2010). Texas governor candidates Bill White, Rick Perry clash over schools. Web.

INFLUENCES ON DIET AND HEALTH Assignment Example | Topics and Well Written Essays - 2000 words

INFLUENCES ON DIET AND HEALTH - Assignment Example Kimberly Rogers has mental problems and is currently admitted at a mental health facility. Psychological conditions such as depression are known to affect individuals in many ways. This has obvious negative implications on an individual’s health and wellbeing and may exacerbate conditions such as diabetes and hypertension. The child prefers to eat fatty and sugary foods. This can affect his quality of life because she is consuming energy dense foods that are nutrient deficient. This will result in health problems such as obesity and other chronic conditions later in life. Alex prefers to eat processed meat products which have been associated with various health conditions. Processed foods have dangerous levels of compounds that are not considered to be healthy. Furthermore, such foods are associated with an increased risk of diabetes and heart ailments. The patient in the case prefers snacks and processed foods. These foods are energy dense and are low in nutritional content. This will definitely have a negative impact on a individual’s health and wellbeing through a compromised immune system, and conditions such as obesity. Mr Holmes can be described as a striver. He is conscious of his image, has limited income and is used to debts. This kind of lifestyle may prevent him from accessing everything that essential for a good health and wellbeing. Alex’s is described as a believer, he is slow to change his habits, bargains when shopping, and spends considerable time watching television. This lifestyle might affect his wealth and wellbeing as it is largely sedentary and may result in conditions such as obesity, and diabetes. Kimberly’s lifestyle is described as an actualizer, and enjoys good things in life. Such a life style might impact positively on the her health and wellbeing as her tendency to look for good things might

Business environment and strategic planning Essay

Business environment and strategic planning - Essay Example Various factors which are specific to the industries in which firms operate such as - economies of scale, product differentiation, degree of concentration of various firms in that industry as well as barriers to market entry; significantly affect their performance (Hoskisson et al., 2008). This paper aims to discuss the impact of reclassification of a firm’s industry sector, on the industry, and the factors affecting its strategic management. It also includes an analysis of the company’s value chain; five forces analysis of the industry it operates in; core competencies and key issues the five forces framework. The leading construction firm – Carillion Plc., UK is selected for the purpose of this study. Carillion Plc., is one of UK’s leading support services companies, with a substantial portfolio of Public Private Partnership (PPP) projects and extensive construction capabilities. It has its business operations in various countries including the UK, Middle East, Canada, North Africa as well as the Caribbean, employing about fifty thousand people worldwide, and annual revenues worth more than  £5bn. It operates in various market sectors such as – defence, education, health, building, facilities management and services, roads, rail, civil engineering and utilities services etc. (Carillion, 2010a). Its key business strategy is to aim for sustainable growth in the support services and PPP projects; create, develop and market bespoke integrated solutions to its customers in the areas of project finance, design and construction as well as maintenance and lifetime asset management solutions. It also aims to maintain a strong and selective construction capability for long-term support service customers. As a part of this strategy the company has undergone significant changes over the years, primarily in the industry sector to which it belongs. Carillion has been reclassified as a

Potential oppotunities n challenges wat doesthe company view as Essay

Potential oppotunities n challenges wat doesthe company view as opportunties and minimize challenges - Essay Example The fast changing environment of technology has necessitated the Hewlett Packard to meet the challenges of emerging new technology in mobile. While HP has been a leader in the computer technology and related areas, it needed to be creative in its diversification and introduce new gadgets to compete with its rivals like Apple Inc, IBM, Sony and Nokia. Palm provided HP with the opportunity to gain a competitive edge against its rivals. The three major opportunities that Palm gained through its merger with HP can be described as below: Brand creation is a major marketing technique that has massive support within and outside the business community and management strategy. ‘Brand building is needed because products are the same’ (Kotler, 2005). The brand name ensures that the product maintains a high standard of excellence at a price that a customer is willing to pay for. Therefore, the brand provides the customer with a quality product which satisfies his needs, making it as one of the key reasons that brands still enjoy the popularity amongst its customers and at the same time, attract fresh clientele. HP is an established international brand and a leader in business computing. Palm is handheld computing device with multiple functions. It is an extremely useful device for executives who are constantly on move and who are looking for gizmos which are small enough to hold in their pockets but powerful enough to be used as computer, or phone or even as an entertainment device, as and when the need arises. Globalization has changed the dynamic of the business and today the professionals need to have all the information at their tip while following a hectic schedule. So the smaller the device which can pack such features, better are its chances of capturing this target group. Hence, Palm’s association with HP would greatly enhance its brand value. Financial considerations are strong motivating factors that promote strategic

Communication Strategies in Nursery Settings

Communication Strategies in Nursery Settings This essay will be exploring the importance of effective communication strategies within nursery settings; also highlighting potential barriers which could be faced by practitioners and managers. It will also be discussing the benefits of staff appraisals, along with implementation strategies for appraisals, grievance and disciplinary procedures. Employment processes will also be discussed within this essay, with particular reference to policies which must be in place within nurseries; in compliance with national standards. Effective management within a setting is important as â€Å"the quality of management is one of the most important factors in the success of any organisation† (Mullins, 2010, P.786). In order to become an effective manager background knowledge and understanding of certain areas is required. Communication takes place within the daily running of a nursery through many different forms, including; verbal and non-verbal communication. However communication may be misread by the receiver if the communicator’s facial expressions, body language or lack of eye contact is misleading; a good connection between the communicator and receiver is essential as it ensure the message is received correctly. Effective communication ensures good working practice and a welcoming atmosphere within settings for practitioners, children and parents. â€Å"Communication is therefore a central component of effective business operations† (Hargle, et al, 2004). Although managers must practice good communication skills with their staff team, it is a two-way process requiring all participants to effectively practice these skills; ensuring positive outcomes. However this is not always possible, as some participants are not always willing to listen to or accept others ideas or opinions. By becoming active listeners’ individuals are consciously practising effective listening skills and promoting good practice; however this may not always happen in daily practice, as the environment plays an important role in effective communication. If the setting is busy or not all members of staff are in the same area, communication would therefore be more difficult; resulting in some messages not being passed on or forgotten. There are three general categories for communication; aggressive, assertive and passive. Good managers and leaders aim to be assertive communicators, to ensure the goal is reached but also ensuring all parties feel valued. Whereas passive and aggressive communication are not effective forms of communication for leaders and managers; as passive communicators do not like to put their ideas forward and go along with others to avoid conflict. Aggressive communicators are â€Å"generally perceived as selfish and unwilling to compromise† (About.com, 2012). These will form barriers to effective communication as some recipients will not be willing to listen to aggressive communications, as they may feel they are being dictated to. The ability to guide practitioners through situations which may arise ensures effective leadership and positive outcomes for children. Although managers are required to implement new requirements, such as the reformed EYFS, many members of staff may not be comfortable with the change. â€Å"Effective leaders understand that any organisational change can have a major impact on the lives of those involved or affected by it† (Rood, 2006, P.186). The leadership continuum, developed by Tannenbaum and Schmidt, shows â€Å"a range of action related to the degree of authority used by the manager and to the area of freedom available to non-managers in arriving at decisions† (Mullins, 2007, P.372). Effective leadership empowers staff members to work towards a shared goal, achieving positive outcomes for children, practitioners and the setting. To achieve this, leaders must inspire others through positive role modelling, collaboration, open-ended conversation and encouragement. Isabelle Albanese’s 4 Cs of communication are comprehension, credibility, connection and contagiousness. â€Å"The 4Cs quickly provide a pocket tool to evaluate the effectiveness of every kind of communication† (PMP, 2014); ensuring communication is precise, understood, captivating and progressing in achieving goals. Therefore by using the 4 Cs managers and practitioners alike are able to focus on essential information within their communication, ensuring the effective running of the nursery. Appraisals are usually carried out within nursery settings on an annual basis, in order to discuss evaluate and track individual practitioner’s performance, progress and future ambitions; with particular reference to training needs and future professional targets. The appraisal form provides a documented account of what has been discussed by management and staff members, with a signed copy of individual action targets agreed by all parties involved in the process. It must also comply with the UK Employment Equality (Age) Regulations 2006, which states that â€Å"It is unlawful to discriminate, harass or victimise job applicants, employees or trainees on the grounds of age† (Compact law, 1996-2014); all correspondence recorded in the appraisal process should not discriminate against the individual due to their age, race, religion or disability. Management training on how to deliver effective appraisal is beneficial as it ensures management are motivating their staff to reach their full potential; whereas ineffective appraisals will make practitioners feel demotivated in their job role. Effective appraisal systems must measure, debate and plan individual development and targets, generating useful feedback in both directions (Hay, 2008). Appraisals also offer practitioners the chance to voice their opinions and ideas on the running of the nursery; therefore managers must be open to ideas and opinions of their staff in order to maintain positive working relationships and improve their setting in the best interests of staff and children. Appraisals are a chance for both managers and practitioners to raise any concerns they may have over working practice, whilst also reflecting on their own performance within their role; both positive and negative. However some practitioners may see appraisals as a chance for management to be ne gative and list issues they may have; therefore it is essential for managers to take into account the views and opinions of practitioners, and offer constructive targets for improvements. â€Å"New staff should be given copies of policies and procedures as part of the induction process and given the opportunity to discuss them with their line manager† (Daly, et al, 2009, P.287).This should include the nursery’s appraisal policy, and should be easily accessible for practitioners to access when they require. The policy should clearly state what is expected from both practitioners and management during the appraisal process. Employees are often required to fill out an appraisal form prior to meeting with management, where they are able to reflect upon their own job performance. It is important for managers to provide practitioners with the last year’s appraisal, to allow them to reflect on whether they have achieved their own personal development targets; also giving them the chance to complete targets they may feel they haven’t achieved. However it could be argued that self-appraisal should be continuous practice throughout the year, in order to maintain high standards of care and learning for the children. â€Å"Self-appraisal should not only be seen as part of the appraisal process. It is also, in a more or less informal way, a regular feature of nursery work† (Sadek and Sadek, 2004, P.140). Performance appraisals are a good tool in identifying particular individuals who are progressing well in their job role, and who may be eligible to progress to the next pay and job level; within some bigger nurseries. They also prove worthwhile in motivating individuals within their role, through personalised discussion and development targets. â€Å"Managers of effective settings provide intellectual stimulation for their staff, along with respectful individualised support† (Miller, et al, 2012, P.288). Although the appraisal process provides a private personalised time where individuals are able to discuss their concerns with managers, it is important for managers to address any pertinent issues with staff as they arise. This therefore ensures that issues are resolves quickly and effectively, rather than being left to escalate. However this is not always possible within larger nurseries whether staff members do not always come into contact with management. Like the appraisal policy the disciplinary and grievances procedures must be clearly set out within a policy, and kept in an easily accessible place for employees to refer to as required. These procedures ensure the safety and protection of all staff in the setting; in accordance with the ACAS code of practice and current legislation, including the Employment Act 2008. They provide â€Å"clear and transparent structures for dealing with difficulties which may arise as part of the working relationships from either the employers or employees perspective† (CIPD, 2014). The policies should also set out what is expected from staff members, in relation to their conduct; therefore trying to avoid such issues; however this is not always possible. Issues which may arise include lateness, capability, bullying and performance of individual practitioners. Disciplinary and grievance procedures aim to deal with these issues in house, without the involvement of a tribunal. The three stages of the disciplinary procedure are as follows; issuing a letter to the employee, a meeting between management and the employee and then finally a chance for an appeal. The ACAS code of practice states that â€Å"employers would be well advised to keep a written record of and disciplinary or grievances cases they deal with† (ACAS, 2009, P.2). This is an important aspect of the procedure, as the records provide evidence in case the issue goes to an employment tribunal. Training is essential in order for management to conduct an effective disciplinary interview; â€Å"Having the appropriate training and knowledge enables you to be in control and manage any situations that arise† (Niched, 2012). Employees should be given advanced notice of the meeting in the form of a letter, at least 72 hours prior to the meeting. All facts surrounding the case should be examined and investigated prior to the meeting, ensuring management are aware of all the facts. It is essential that another member of management records notes during the meeting, to guarantee that evidence is collected in case a tribunal is called. All parties involved must be able to put their side across, with plenty of time; this may include relevant witnesses to the case. In order for the manager to make an informed decision they must remain impartial during the meeting, then deliver the verdict to the employee in writing; along with information in case they wish to appeal the verdict. In conclusion to the interview the outcome may involve no action being taken, a warning being issued or the dismissal of the employee. The manager with decide which of these outcomes is appropriate due to the nature of the case; however they must be able to prove their decision is appropriate and reasonable. Instead of filing a formal procedure employees should be able to approach their managers on a daily basis to discuss any issues; however they may not always feel comfortable doing this. The employment of new staff within nursery settings follows three stages; advertisement, selection and recruitment and induction. Nurseries are required to have policies in place to reflect these stages, stating how they aim to employ high quality staff whilst maintaining equal opportunities for all applicants. The wide deployment of advertisements at the same time allows a wider range of applicants to apply for the job, with equal time to apply. The vacancy should be advertised to all areas of the community, which is essential to maintain equal opportunities. To select potential candidates from all the applications managers must review their curriculum vitae against the job description. This is an effective way to avoid discrimination, as they are not being deterred by race, gender or age; it is focussing on their individual skills and attributes, which are appropriate to the role. Having two members of management involved in selecting new members of staff promotes equal opportunities and avoids discrimination; all decisions should be recorded and delivered in writing. Settings must have an induction policy which clearly sets out how new staff will be introduced to the setting; effectively informing them of the daily running of the nursery and settling them into the environment. This should also include the new member of staff being given the nursery policies to look at, making them aware of the policies and procedures; also identifying children with particular needs or allergies. This is an effective tool during the induction as it avoids mistakes being made, for example a child with a dairy intolerance being given milk to drink by accident. In an ideal world the shadowing of a current member of staff would provide the new employee with a mentor and a chance to familiarise themselves with the daily running of the setting. However this is not always the case or possible within settings, as due to the busy nature of the environment existing staff members may not have the time to show them certain things; resulting in the new employee not gaining the relevant knowledge needed. The staff development policy must take into account the ever changing needs of the children in the setting, as well as the changes in legal requirements; such as the reformed Early Years Foundation stage. The key elements of effective practice (KEEP) states that effective practitioners must have, â€Å"knowledge and understanding in order to actively support and extend children’s learning in and across all areas and aspects of learning† (Surestart, 2005, P.3). Individual staff personal development plans identify the training needs of individuals, ensuring they receive this training is essential as high quality care and education is important in ensuring positive outcomes for all children. â€Å"Effective practice in the early years requires committed, enthusiastic and reflective practitioners with a breadth and depth of knowledge, skills and understanding† (Wilcock, 2012, P.50). The settings promotion policy should clearly set out how promotions will be identifie d and given at appropriate times, in accordance with the recruitment policy and equal opportunities; staff appraisals also help to identify potential candidates for promotion. In conclusion effective communication is essential within nursery settings to ensure the smooth daily running of the setting, whilst also achieving the highest outcomes for children. There are many potential barriers to effective communication, which must be overcome by all practitioners to maintain effective practice, and positive working environments. Appraisals are an important factor within staff development as they identify positive aspects of practice, whilst also identifying improvement targets; improving the environment and care of the children. Disciplinary and grievance procedures must be carried out effectively in order to resolve issues quickly and appropriately, within the best interests of all involved. The employment of new staff should reflect equal opportunities, whilst retaining high quality staff appropriate to the role.

Nazi Use of Darwinism Essay -- History, Politics, The Treaty of Versa

After the Great War in the nineteenth century, European nations had a difficult time finding economic stability. Germany took full responsibility for starting World War I and by signing the Treaty of Versailles, Germany agreed to give up huge portions of territory and pay reparation to victorious allies. The harsh principles which were outlined by the Treaty of Versailles made economic stability in Germany difficult to achieve and caused Germany to suffer from inflation and the Great Depression. Unemployment and the fear of communism allowed Adolf Hitler to rise to power in 1933. Before Hitler came to power, he spent nine months in jail where he wrote his autobiography Mein Kampf (My Struggle), where he mentions how Darwin’s theory of evolution was the only basis for a successful Germany. He sets forth a number of evolutionary ideas such as; struggle, survival of the fittest, and extermination of the weak to create a better society (Bergman.) Unable to accept Germanys defeat i n the Great War, Adolf Hitler convinced the German people they had been defeated from within-or stabbed in the back by Communist, Socialists, liberals, and the Jews. These â€Å"races† became scapegoats in Germany, and that is how they were constructed as the â€Å"inferior race.† These groups of people, especially the Jews, were not even considered human. With the belief of an inferior race, came the belief of a superior race, which were the self-proclaimed Germans. Concentration camps were created in Germany to separate the inferior race, or the non-Germans from the Germans. It was believed that the inferior race was contaminating the German gene pool. Social Darwinism is a term used to describe ideologies which compare Darwin’s ideas of evolution to social scienc... ...lf was an atheist, although Bergman cannot speak for a group of people who believed what Hitler said to be true. If Hitler was an atheist it further validates the point I am trying to make, Hitler indeed used Darwin’s ideas to justify his actions along with creationist ideas. Bergman unable to acknowledge the fact Hitler used manipulation and propaganda to encourage Nazism, was quick to attack the ideas of evolution. Now I shall ask, is it fair to say Hitler was a creationists because he used god in his speech, thus creationism is equivalent to Nazism? Better yet, if the Nazis did not believe in a god, would the holocaust have occurred? Now, do not be fooled by my last statement, I do not believe creationism is the cause of the holocaust. However, I am trying to prove that Bergman’s argument about Darwinism is just as foolish as my previous statement. Nazi Use of Darwinism Essay -- History, Politics, The Treaty of Versa After the Great War in the nineteenth century, European nations had a difficult time finding economic stability. Germany took full responsibility for starting World War I and by signing the Treaty of Versailles, Germany agreed to give up huge portions of territory and pay reparation to victorious allies. The harsh principles which were outlined by the Treaty of Versailles made economic stability in Germany difficult to achieve and caused Germany to suffer from inflation and the Great Depression. Unemployment and the fear of communism allowed Adolf Hitler to rise to power in 1933. Before Hitler came to power, he spent nine months in jail where he wrote his autobiography Mein Kampf (My Struggle), where he mentions how Darwin’s theory of evolution was the only basis for a successful Germany. He sets forth a number of evolutionary ideas such as; struggle, survival of the fittest, and extermination of the weak to create a better society (Bergman.) Unable to accept Germanys defeat i n the Great War, Adolf Hitler convinced the German people they had been defeated from within-or stabbed in the back by Communist, Socialists, liberals, and the Jews. These â€Å"races† became scapegoats in Germany, and that is how they were constructed as the â€Å"inferior race.† These groups of people, especially the Jews, were not even considered human. With the belief of an inferior race, came the belief of a superior race, which were the self-proclaimed Germans. Concentration camps were created in Germany to separate the inferior race, or the non-Germans from the Germans. It was believed that the inferior race was contaminating the German gene pool. Social Darwinism is a term used to describe ideologies which compare Darwin’s ideas of evolution to social scienc... ...lf was an atheist, although Bergman cannot speak for a group of people who believed what Hitler said to be true. If Hitler was an atheist it further validates the point I am trying to make, Hitler indeed used Darwin’s ideas to justify his actions along with creationist ideas. Bergman unable to acknowledge the fact Hitler used manipulation and propaganda to encourage Nazism, was quick to attack the ideas of evolution. Now I shall ask, is it fair to say Hitler was a creationists because he used god in his speech, thus creationism is equivalent to Nazism? Better yet, if the Nazis did not believe in a god, would the holocaust have occurred? Now, do not be fooled by my last statement, I do not believe creationism is the cause of the holocaust. However, I am trying to prove that Bergman’s argument about Darwinism is just as foolish as my previous statement.

Pepsi Total Reward

Business Ethics Business ethics is a topic that is often on the forefront of media and journalism reports in the United States of America today. To someone that doesn’t have a background in business, or a general understanding of the business world, these reports can be cumbersome and hard to follow. One must first understand what business ethics actually are. Dictionary. com defines business ethics as the study and examination of moral and social responsibility in relation to business practices and decision-making in business (dictionary. com). Once one understands the meaning of business ethics, they often wonder what major companies do to stay ahead of the curve, and excel in the area of business ethics. Sadly, it seems as if the general media is only interested in companies with poor business ethics and practices. Media outfits are able to sell more papers, and gain more viewers, and honest companies such as PepsiCo never get the positive publicity that they deserve. Ethics and compliance are present in PepsiCo’s day to day operations. PepsiCo also has procedures in place to ensure ethical behavior for both their employees, and the company as a whole. Next, one must take a look at processes within the organization PepsiCo employs to comply with SEC regulations. Finally, the financial statements of PepsiCo will be analyzed with the intent of looking into the trend for different ratios and what it tells investors, and the public alike about the organization’s financial health. In a world that is filled with unethical companies that are lying to their investors, employees, and the public, it is encouraging to still have companies like PepsiCo that are both ethical and compliant. PepsiCo goes to great lengths to attain economic success while still complying to the unwritten laws of business ethics. PepsiCo does this based on three main elements of influence: environmental, talent, and human sustainability. PepsiCo offers consumers a wide array of products from health conscious foods, to comfort foods, to athletic drinks. PepsiCo’s financial stability is greatly influenced by the decision to offer so many products. By doing so, PepsiCo gets to appeal to a variety of consumers, as opposed to just one type. When PepsiCo speaks of environmental sustainability, they are talking about their efforts to â€Å"go green† or lessen their environmental footprint. PepsiCo is planning on taking the necessary steps toward reducing their electrical consumption by 20% and reducing fuel consumption by 25% by the year 2015. In 2007, PepsiCo saved nearly five billion liters of water, and nearly five-hundred million kilowatt hours of energy worldwide in 2007 when compared to their use in years past (PepsiCo, 2009). PepsiCo is looking out for the best interests of the environment, an ethical and admirable decision made by the company. PepsiCo is also an equal opportunity employer and they are often praised for the diverse workforce that they develop. When PepsiCo speaks of talent, they are talking about their diverse workforce. PepsiCo also believes in equality, they show this by offering employment to individuals without worrying about gender, race, ethnicity, or sexual orientation. PepsiCo was named one of Business Ethics Magazine’s â€Å"100 best corporate citizens†. PepsiCo shows loyalty to their employees by trying to promote from within. They also participate in various surveys to prevent any issues, and to address any problem areas. The current CEO of PepsiCo is a woman by the name of Indra Nooyi; since she took over in 2006 she has promoted workplace diversity. PepsiCo’s workplace policies are available in thirty different languages to accommodate many ethnic groups. PepsiCo also does their best to try to spend as much as they could with minority owned businesses, while still looking out for the company’s best interests. (PepsiCo, 2009). PepsiCo is extremely ethical and compliant when looking at their hiring practices. Human sustainability at PepsiCo is their vow to offer more healthy choices for consumers. PepsiCo is dedicated to their consumers, and is focused on creating and innovating new products that will offer less sugar and staying away from â€Å"empty calories†. PepsiCo has been partnering with the World Health Organization to find new ways to improve the diets of consumers while promoting physical activities. When looking at PepsiCo’s promotion of human sustainability, it is evident that PepsiCo values their consumers, which is valued and ethical. PepsiCo much like any other well respected company, complies with the regulations that are determined by the SEC (Securities and Exchange Commission). PepsiCo demonstrates their SEC compliance through their hiring of an independent registered public accounting firm. PepsiCo utilizes the well-known and respected accounting firm Klynveld Peat Marwick Goerdeler which is more commonly referred to as KPMG. KPMG is one of the largest professional services firms in the world and one of the Big Four auditors. The Big Four auditors are KPMG along with PricewaterhouseCoopers, Deloitte, and finally Ernst and Young. KPMG’s global headquarters are located in the Netherlands . By employing an outside source, PepsiCo allows the auditing firm KPMG to clearly analyze their numbers, ultimately making independent judgments for the soft drink company. KPMG complies with the laws and guidelines that are set up by the Securities and Exchange Commission through a published report to the SEC that is created quarterly and annually for PepsiCo. The reports that are then created by KPMG offer the Securities and Exchange Commission as well as shareholders, and anyone else interested detailed information on what and where the company is spending money as well as on what and where the company is receiving money. Near the end of PepsiCo’s annual report, there is a statement that speaks of the honesty and integrity of the report. This statement reads: â€Å"Under the supervision and with the participation of our management, including our Chief Executive Officer and our Chief Financial Officer, we conducted and evaluation of the effectiveness of our control over financial reporting based upon the framework in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on that evaluation our management concluded that our internal control over financial reporting is effective as of December 26, 2009 (PepsiCo, 2009). † Based on that quote, one must believe that PepsiCo is both ethical and compliant with respect to the Securities and Exchange Commission. Despite the worldwide economic turmoil that companies have been forced to deal with, PepsiCo has done their best to rise above the state of the economy, and still post good numbers. PepsiCo’s current ratio for 2008 came out to 1. 23 and the current ratio for 2009 was 1. 35. This means that PepsiCo can pay back its short-term liabilities (debt and payables) with its short-term assets (cash, inventory, receivables) 1. 299 times in 2008 and 1. 435 times in 2009. To properly compute the current ratio for each year an individual would divide the current assets by the current liabilities. The 2008 current ratio for PepsiCo can be calculated by dividing 10,806 by 8,787. This comes out to 1 . 23. The 2009 current ratio for Pepsi is calculated the same way dividing 12,571 by 8,756. This equates to 1. 435. PepsiCo improved their current ratio year over year. A debt ratio is a ratio that indicates what proportion of debt a company has relative to its assets. Thus having a lower percentage would be ideal. PepsiCo’s debt ratio for 2008 was 23%. This can be computed by taking the total debt, which was $ 8,227 and dividing that by the total assets which were $ 35,994. In 2009 the total debt was $7,864 and the total assets were $ 39,848, giving PepsiCo a debt ratio of 19. 7%. Return on equity is known as the amount of net income returned as a percentage of shareholders equity. It can be calculated as the net income divided by common equity, and a higher percentage is favorable. In 2008 the net income was $ 5,166, which is divided by the common equity $ 12,203, this comes out to 12%. In 2009 the net income was $ 5,979 and the common equity was $ 16,908, meaning that the return on equity was 35%. Again, PepsiCo shows improvement year over year. Finally, comes the days receivable. The days receivable are a measure of the average time a company's customers take to pay for purchases. The days receivable are equal to accounts receivable divided by annual sales on credit times 365. In 2008 PepsiCo’s accounts receivable came out to $ 4,683, annual sales on credit were $ 20,351, meaning that the days receivable in 2008 equated to 83. 99, or simply 84 days. In 2009 PepsiCo’s accounts receivable came out to $ 4,624, annual sales on credit were $ 20,099, meaning that the days receivable in 2008 equated to 83. 97 or 84 days as well. Year over year, it seems as if PepsiCo remained constant in the area of days receivable. In closing, PepsiCo establishes itself on the forefront of ethics and compliance. PepsiCo also has procedures in place to ensure ethical behavior of employees and shareholders. Finally, PepsiCo has processes that they utilize to comply with SEC regulations. PepsiCo seems to have improved financially year over year between 2008 and 2009. In a world that is filled with unethical companies that are lying to their investors, employees, and the public, it is encouraging to still have companies like PepsiCo that are both ethical and compliant. References Business ethics. (n. d. ). Dictionary. com's 21st Century Lexicon. Retrieved September 27, 2010, from Dictionary. com website: http://dictionary. reference. com/browse/Business ethics PepsiCo. 2008 Annual Report. Purchase, NY: PepsiCo, 2008. Annual reports. September 27, 2010. http://www. pepsico. com/Investors/Annual-Reports. html PepsiCo. 2009 Annual Report. Purchase, NY: PepsiCo, 2009. Annual reports. September 27, 2010. http://www. pepsico. com/Investors/Annual-Reports

Anne Aylor Case

Anne Aylor, Inc. Determination of Planning Materiality and Tolerable Misstatement MARKS. BEASLEY · FRANK A. BucKLEss  ·STEVEN M. GLOVER · DouGLAS F. PRAWITT LEARNING OBJECTIVES After completing and discussing this case you should be able to [1] [2] Determine planning materiality for an audit client Provide support for your materiality decisions [3] Allocate planning materiality to financial statement elements INTRODUCTION j– Anne Aylor, Inc. (Anne Aylor) is a leading national specialty retailer ofhigh-qualitywomen's apparel, shoes, and accessories sold primarily under the â€Å"Anne Aylor† brand name.Anne Aylor is a highly __ recognized national brand that defin_s_a _ e dis_tin_t_ c fashion_point of v:iew. –. Anne Aylor merchandise represents classic styles, updated to reflect current fashion trends. Company stores offer a full range of career and casual separates, dresses, tops, weekend wear, shoes and accessories coordinated as part of a total wardrobing strategy. The company places a significant emphasis on customer service. Company sales associates are trained to assist customers in merchandise selection and wardrobe coordination, helping them achieve the â€Å"Anne Aylor† look while maintaining the customers' personal styles.The company follows the standard fiscal year of the retail industry, which is a 52-or 53week period ending on the Saturday closest to January 31 of the following year. Net revenue for the year ended January 291 2011 (referred to as fiscal2011) was $1. 4 billion and net income was $58 million. At the end of fiscal 2011, the company operated approximately 584 retail stores located in 46 states under the name Anne Aylor. The company's core business focuses on relatively affluent, fashion-conscious professional women with limited shopping time.Substantially all of the company's merchandise is developed in-house by its product design and development teams. Production of merchandise is sourced to 131 indepen dent manufacturers located in 19 countries. Approximately 45 percent; 16 percent, 13 percent, 12 percent, and 9 percent of the company's merchandise is manufactured in China, Philippin~s, Indonesia, India, and Vietnam, respectively. Merchandise is distributed to the company's retail stores through a single distribution center, located in Louisville, Kentucky.Anne Aylor stock trades on The New York Stock Exchange and Anne Aylor is required to have an integrated audit of its consolidated financial statements and its internal control over financial reporting in accordance with the standards of the Public Company Accounting Oversight Board (United States). As of the close of business on March 11, 2011 Anne Aylor had 48,879,663 shares of common stock outstanding with a trading price of $22. 57. The case was prepared by MarkS. Beasley, Ph. D. and Frank A. Buckless, Ph. D. f North Carolina State University and Steven M. Glover, Ph. D. and Douglas F. Prawitt, Ph. D. of Brigham Young Univers ity, as a basis for class discussion. Anne Aylor, Inc. is a fictitious company. All characters and names represented are fictitious; any similarity to existing companies or persons is purely coincidental. From Case 7. 1 of Auditing Cases: An Interactive Learning Approach. Fifth Edition. Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt. Copyright e 2012 by Pearson Education, Inc. Published by Prentice Hall.All rights reserved 77 Anne Aylor, Inc. BACKGROUND Your firm, Smith and Jones, PA. , is in the initial planning phase for the fiscal 2012 audit of Anne Aylor, Inc. (i. e. , the audit for the year that will end on January 28, 2012). As the audit manager, you have been assigned responsibility for determining planning materiality and tolerable misstatement for key financial statement accounts. Your firm's materiality and tolerable misstatement guidelines have been provided to assist you with this assignment (see Exhibit 1).Donna Fontain, the audit partner, has performed a preliminary analysis of the company and its performance and believes the likelihood of management fraud is low. Donna's initial analysis of the company's performance is documented in the memo referenced as G-3 (top right hand comer of the document). Additionally, Donna has documented current events/issues noted while performing the preliminary analysis in a separate memo, G-4. You have recorded the audited fiscal 2011 and projected fiscal20 12 fmancial statement numbers on audit schedule G-7.The company's accounting policies are provided in Exhibit 2. Assume no material misstatements were discovered during the fiscal 2011 audit. REQUIRED [1] Review Exhibits 1 and 2; audit memos G-3, and G-4i and audit schedules G-5, G-6 and G-7. Based on your review, answer each of the following questions: [a] [b] [c) [d) [e) [f) [g) [2) Why are different materiality bases considered when determining planning materiality? Why are different materiality thresholds relevant for different au dit engagements?Why is the materiality base that results in the smallest threshold generally used for planning purposes? Why is the risk of management fraud considered when determining tolerable misstatement? Why might an auditor not use the same tolerable misstatement amount or percentage of account balance for all fmancial statement accounts? Why does the combined total of individual account tolerable misstatements commonly exceed the estimate of planning materiality? Why might certain trial balance amounts be projected when considering planning materiality?Based on your review of the Exhibits ( 1 and 2) 1 audit memos ( G-3, and G-4), and audit schedules ( G-5, G 6-1, and G 6-2), complete audit schedules G-5, G-6 and G-7. 78 Anne Aylor, In(. EXHIBIT 1 Smith and Jones, PA. Polley Statement: Planning Materiality This policy statement provides general guidelines for firm personnel when establishing planning materiality and tolerable misstatement for purposes of determining the nature , timing, and extent of audit procedures. The intent of this policy statement is not to suggest that these materiality guidelines must be followed on all audit engagements.The appropriateness of these materiality guidelines must be determined on an engagement by engagement basis, using professional judgment. Planning Materiality Guidelines Planning materiality represents the maximum, combined financial statement misstatement or omission that could occur before Influencing the decisions of reasonable individuals relying on the financial. statements. The magnitude and nature of financial statement misstatements or omissions will not have the same influence on all financial statement users.For example, a 5 percent misstatement with current assets may be more relevant for a creditor than a stockholder, while a 5 percent misstatement with net income before Income taxes may be more relevant for a stockholder ttian a creditor. Therefore, the primary consideration when determining materiali ty Is the expected users of the financial statements. Relevant financial statement elements and presumptions on the effect of combined misstatements or omissions that would be considered Immaterial and material are provided below: †¢ Net Income-Before-Income Taxes –  ·combined misstatements or omissions less than 2 percent of..  ·- Net Income Before Income Taxes are presumed to be immaterial and combined misstatements or - ·Ã‚ ·Ã‚ ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- omissions-greater than ·7†³percenfare-pfes-umecrtob8 ·-material. -(Note: Net lncome.. Befofe.. lncome______ .. Taxes may not be an appropriate base If the clienrs Net Income Before Income Taxes is substantially below other companies of equal size or Is highly variable. ) †¢ Net Revenue – combined misstatements or omissions less than 0. 5 percent of Net Revenue are presumed to be Immaterial, and combined misstatements or omissions greater than 2 percent are presumed to be material. Curren t Assets – combined misstatements or omissions less than 2 percent of Current Assets are presumed to be immaterial, and combin9d misstatements or omissions greater than 7 percent are presumed to be material. †¢ Current Liabilities – combined misstatements or omissions less than 2 percent of Current Uabilities are presumed to be immaterial and combined misstatements or omissions greater than 7 percent are presumed to be material. †¢ Total Assets- combined misstatements or omissions less than 0. percent of Total Assets are presumed to be immaterial, and combined misstatements or omissions greater than 2 percent are presumed to be material. (Note: Total Assets may not be an appropriate base for service organizations or other organizations that have few operating assets. ) The specific amounts established for each financial statement element must be determined by considering the primary users as well as qualitative factors. For example, if the client is close to violating the minimum current ratio requirement for a loan agreement, a smaller planning materiality amount should be used for current assets and liabilities.Conversely, if the client is substantially above the minimum current ratio requirement for a loan agreement, n would be reasonable to use a higher planning materiality amount for current assets and current liabilnies. Planning materiality should be based on the smallest amount established from relevant materiality bases to provide reasonable assurance that the financial statements, taken as a whole, are not materially misstated for any user. Anne Aylor, Inc.Tolerable Misstatement Guidelines In addition to establishing materiality for the overall financial statements, materiality for individual financial statement accounts should be established. The amount established for individual accounts is referred to as â€Å"tolerable misstatement. † Tolerable misstatement represents the amount individual financial statement accoun ts can differ from their true amount without affecting the fair presentation of the financial statements taken as a whole. Establishment of tolerable misstatement for individual accounts enables the auditor to design and execute an audn strategy for each audit cycle.The objective in setting tolerable misstatement for individual financial statement accounts is to provide reasonable assurance that the financial statements taken as a whole are fairly presented in all material respects at the lowest cost. To provide reasonable assurance that the financial statements taken as a whole do not contain material misstatements, the tolerable misstatement established for individual financial statement accounts should not exceed 75 percent of planning materiality. The percentage threshold should be lower as the expectation for management fraud increases.In many audits it is reasonable to expect that individual financial accounts misstatements identified will be less than tolerable misstatement a nd that misstatements across accounts will offset each other (some identified misstatements will overstate net income and some identHied misstatements will understate net income). This expectation is not reasonable when the likelihood of management fraud is hi,gh. If management is intentionally trying to misstate the financial statements, it is likely that misstatements will be systematically biased in one direction across accounts.The tolerable misstatement percentage threshold should not exceed:- — — —— ·- · - · – ·Ã¢â‚¬â€œ —- —- ·Ã¢â‚¬â€œ — – –  ·- ·  ·Ã¢â‚¬â€ —- ·Ã‚ ·- ·Ã‚ ·Ã‚ ·Ã‚ ·- – ——7-5-percent-of-planning materJality-if low-likelihood-otmanagementfraud —————- _– ·- ·-  ·- - · - ·Ã¢â‚¬â€œÃ‚ ·- · . †¢ 50 percent of planning materiality if reasonably low likelihood of management fraud, and †¢ 25 percent of planning materiality if moderate likelihood of management fraud Finally a lower tolerable misstatement may be required for specific accounts because of the relevance of the account to users.Tolerable misstatement for a specific account should not exceed that amount that would influence the decision of reasonable users. Approved: April 24, 2009 80 Anne Aylor, Inc. EXHIBIT 2 Anne Aylor, Inc. Accounting Policies Revenue Recognition -The Company records revenue as merchandise is sold to clients. The Company's policy with respect to gift certificates and gift cards is to record revenue as they are redeemed for merchandise. Prior to their redemption, these gift certificates and gift cards are recorded as a liability.While the Company honors all gift certificates and gift cards presented for payment, management reviews unclaimed property laws to determine gift certificate and gift card balances required for escheatment to the appropriate government agency. Amounts related to shi pping and handling billed to clients in a sales transaction are classified as revenue and the costs related to shipping product to clients are classified as cost of sales. A reserve for estimated returns is established when sales are recorded. The Company excludes sales taxes collected from customers from net sales in Its Statement of Operations.Cost of Sales and Selling, General and Administrative Expenses- The following table Illustrates the primary costs classified in each major expense category: Cost of Sales Cost of merchandise sold; Freight costs associated with moving merchandise from our suppliers to our distribution center; __ †¢ . – Costs asSociated with the rilovein8nt Of – merchandise-through. customsrCosts associated with the fulfUiment of online customer orders; Depreciation related to merchandise management systems; Sample development costs; Merchandise shortage; and Client shipping costs.Selling, General and Administrative Expenses Payroll, bonus a nd benefit costs for retail and corporate associates; –~- __Design and merchandising oosts;____ _ _ _ Occupancy costs for retail and corporate facilities; -Depreciation related to retail and corporate assets; · Advertising and marketing costs; Occupancy and other costs associated with operating our distribution center; Freight expenses associated with moving merchandise from our distribution center to our retail stores; and Legal, finance, Information systems and other corporate overhead costs.Advenlslng- Costs associated with the production of advertising, such as printing and other costs, as well as costs associated with communicating advertising that has been produced, such as magazine ads, are expensed when the advertising first appears In print. Costs of direct mall catalogs and postcards are fully expensed when the advertising Is scheduled to first arrive in clients' homes. Leases and Oete†ed Rent Obligations – Retail stores and administrative facilities are occupied under operating leases, most of which are non-cancelable.Some of the store leases grant the right to extend the term for one or two additional five-year periods under substantially the same terms and conditions as the original leases. Some store leases also contain early termination options, which can be exercised by the Company under specific conditions. Most of the store leases require payment of a specified minimum rent, plus a contingent rent based on a percentage of the store's net sales in excess of a specified threshold.In addition, most of the leases require payment of real estate taxes, Insurance and certain common area and maintenance costs In addition to the future minimum lease payments. Rent expense under non-cancelable operating leases with scheduled rent increases or free rent periods is accounted for on a straight-line basis over the initial lease term beginning on the date of initial possession, which is generally when the Company enters the space and b egins construction build-out Any reasonably assured renewals are considered. The amount of the excess of straight-line rent expense over scheduled payments is recorded as adeferred liability. 1 Anne Aylor, IlK. Construction allowances and other such lease incentives are recorded as deferred credits, and are amortized on a straight-line basis as a reduction of rent expense beginning in the period they are deemed to be earned, which often is subsequent to the date of initial possession and generally coincides with the store opening date. The current portion of unamortized deferred lease costs and construction allowances is included in â€Å"Accrued tenancy†, and the long-term portion is included in â€Å"Deferred lease costs† on the Company's Balance Sheets.Restructuring Costs – On January 30, 2008, the Company inniated a multi-year restructuring program designed to enhance protnability and improve overall operating effectiveness. The restructuring program, includ es closing underperforming stores over a three-year period, reducing the Company's corporate staff by approximately 1Oo/o and undertaking a broad-based productivity initiative that includes, among other things, the strategic procurement of non-merchandise goods and services.Restructuring costs include non-cash expenses, primarily associated wnh the write-down of assets related to store closures, cash charges related primarily to severance and various other costs to implement the restructuring program. Liabilities associated with restructuring charges are included in â€Å"Accrued salaties and bonus,† Accrued tenancy,† â€Å"Accrued expenses and other current liabilities,† and â€Å"Other liabilities. † Cash and Cash Equivalents – Cash and short-term highly liquid investments with original maturity dates of 3 months or less are considered cash or cash equivalents.The Company invests excess cash primarily in money market accounts and short-term commer cial paper. Financial Instruments- The Company's auction rate securities are classified as available-for-sale and are — - ·Ã‚ ·- ·Ã‚ · —–carried at. cost or_ par_ value,. which _appro,droaJe$J~! mM~~LV~-~~~ . I~_s. e_ sepurities have stated maturities beyond three months but are priced and traded as short-term instruments due to theliquiditY-provided fnrougn — - · – ·  ·Ã‚ ·  ·Ã¢â‚¬â€Ã¢â‚¬â€-  · - ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€œ – ·-ttie interesrratereset ·mechanism-of-2B-or35-days:– ·Ã¢â‚¬â€Ã¢â‚¬â€œÃ‚ ·Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€-  ·Ã¢â‚¬â€-. - ·Ã‚ ·- ·Ã¢â‚¬â€œÃ‚ ·Ã‚ ·- ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ · Merchandise Inventories – Merchandise inventories are valued at the lower of average cost or market, at the individual item level. Market is determined based on the estimated net realizable value, which is generally the merchandise selling price. Merchandise inventory levels are monitored to identify slow-moving items and broken assortments (items no longer in stock in a sufficient range of sizes) and markdowns are used to clear such merchandise. Merchandise inventory value is reduced if the selling price is marked below cost.Physical inventory counts are performed annually in January, and estimates are made for any shortage between the date of the physical inventory count and the balance sheet date. Store Pre-Opening Costs – Non-capital expendnures, such as rent, advertising and payroll costs incurred prior to the opening of a new store are charged to expense in the period they are incurred. Property and Equipment- Property and equipment are recorded at cost. Depreciation and amortization are computed on a straight-line basis over the following estimated useful lives: Building †¦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‚¬ ¦. 0 yea rs Leasehold improvements †¦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‚¬ ¦ 10 years or term of lease, if shorter Furniture, fixtures and equipment.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 2-1 0 years Software †¦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‚¬ ¦.. 5 years Accounting for the Impairment or Disposal of Long-Lived Assets – The assessment of possible impairment is based on tbe Company's ability to recover the carrying value of the long-lived asset from the expected future pre-tax cash flows (undiscounted and wnhout interest charges).If these cash flows are Jess tha11 the carrying value of such assets, an impairment loss is recognized for the difference between estimated fair value and carrying value. The primary measure of fair value is based on discounted cash flows. T he measurement of impairment requires management to make estimates of these cash flows related to long- 82 Anne Aylor, In(. lived assets, as well as other fair value determinations. Goodwill and lnde†nlte-llved Intangible Assets – The Company performs annual impairment testing related to the carrying value of the Company's recorded goodwill and indefinite-lived intangible assets.Defe†ed Financing Costs- Deferred financing costs are amortized using the effective interest method over the term of the related debt. Self Insurance – The Company is self-insured for certain losses related to its employee point of service medical and dental plans, its workers' compensation plan and for short-term disability up to certain thresholds. Costs for self-insurance claims filed, as well as claims incurred but not reported, are accrued based on management's estimates, using information received from plan administrators, third party activities, historical analysis, and other relevant data.Costs for seH-insurance claims filed and claims incurred but not reported are accrued based on known claims and historical experience. Income Taxes – The Company accounts for income using the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized, and income or expense is recorded, for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Treasury Stock Repurchases – The Company repurchases common stock from time to time, subject to market conditions and at prevailing market prices, through open market purchases or in privately negotiated transactions. Repurchased shares of common stock are recorded using the ~ost method. - ·Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€œ —– — · – – – – – – – – –  œ – –  · ——- ·Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- - ·Ã¢â‚¬â€Ã‚ · —- ——— · —- ·Ã‚ ·Ã¢â‚¬â€œÃ‚ ·Ã‚ ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€- ·Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€œ ————-Stock-based Compensation- The Company uses the modified prospective method to record stock-based — ·Ã‚ ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€Ã‚ ·Ã‚ ·- —compensation-:-Thecalculaticinof stocK-baseifcompensatiOn exp-ense requirestne input ofnigtily subjective___  ·Ã¢â‚¬â€œÃ‚ ·Ã‚ ·Ã‚ ·  ·Ã¢â‚¬â€Ã¢â‚¬â€œ.. -†¦ assumptions, including the expected term of the stock-based awards, stock price volatility, and pre-vesting forfeitures. The Company estimates the expected IHe of shares granted in connection with stock-based awards using historical exercise patterns, which is assumed to be representative of future behavior.The volatility of common stock at the date of grant is estimated based on an average of the historical volatility and the implied volatility of publicly traded options on the common stock. In add†ion, the expected forfe†ure rate is estimated and expense is only recorded for those shares expected to vest. Forfeitures are estimated based on historical experience of stock-based awards granted, exercised and cancelled, as well as considering future expected behavior.Savings Plan and Pension Plan -In June 2006, the Company's Board of Directors authorized management to freeze â€Å"s non-contributory defined benefit pension plan (the â€Å"Pension Plan†) and enhance its defined contribution 401 (k) savings plan (the â€Å"401 (k) Plan;. These plan changes became effective on October 1, 2006. Savings Plan – Substantially all employees of the Company and â€Å"s subsidiaries who work at least 30 hours per week or who work 1,000 hours during a consecutive 12 month period are eligible to participate in the Company's 401 (k) Plan.Under the plan, participants can contribute an aggr egate of up to 75o/o of their annual earnings in any combination of pre-tax and after-tax contributions, subject to certain lim†ations. The Company makes a matching -contribution of 1OOo/o w†h respect to the first 3o/o of each participant's contributions to the 401 (k) Plan and makes a matching contribution of 50o/o with respect to the second 3o/o of each participant's contributions to the 401 (k) Plan.Pension Plan- Substantially all employees of the Company who began employment prior to October 1, 2006, and completed 1,000 hours of service during a consecutive 12 month period prior to that date are eligible for benefits under the Company's Pension Plan. The Pension Plan calculates benefits based on a career average formula. Only those associates who were eligible under the Pension Plan on or before September 30, 2006 are eligible to receive benefits from the Pension P! an once they have completed the five years of 83 Anne Aylor, Inc. ervice required to become fully vest ed. As a resu~t of the Pension Plan freeze, no associate may become a participant in the Pension Plan on or after October 1, 2006, and no additional benefits will be earned under the Pension Plan on or after October 1, 2006. The Company records the net over- or under-funded position of a defined benefit postretirement plan as an other asset or other liability, with any unrecognized prior service costs, transition obligations or actuarial gains/losses reported as a component of accumulated other comprehensive income in stockholders' equity.Other Liabilities – Other liabil~ies includes liabilities associated with the Company's restructuring program, pension plan, borrowings for the purchase of fixed assets, and obligation tor excess corporate office space. — ·Ã‚ ·Ã¢â‚¬â€- ·Ã¢â‚¬â€Ã¢â‚¬â€œ —– ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€ —- ·Ã¢â‚¬â€- ·- - ·Ã¢â‚¬â€Ã¢â‚¬â€Ã‚ ·-  ·Ã¢â‚¬â€- – ·Ã¢â‚¬â€Ã‚ ·Ã‚ ·Ã¢â‚¬â€- ·- ·Ã¢â‚¬â€œ - ·- ·- ·Ã¢â‚¬â€Ã‚ · — ·Ã¢â‚¬â€Ã¢â‚¬â€œÃ‚ ·Ã¢â‚¬â€- ·.  ·- ·Ã¢â‚¬â€Ã‚ ·Ã‚ ·  ·- ·- - ·  ·- ·Ã¢â‚¬â€œÃ‚ ·  ·- ·- ·- —– ·- 84 Anne Aylor, In(. Anne Aylor, Inc. Memo: Analysis of Performance First Quarter Year Ended: January 28,2012 Reference: Prepared by: Date: G3 DF 6115111 Reviewed by: Net sales for the first quarter of fiscal 2012 increased 7. 5 percent from the first o quarter – f fiscal 2011.Comparable store sales for the first quarter of fiscal 2012 increased 5. 1 percent, compared to a comparable store sales increase of 2. 5 percent in the first quarter offiscal201 J. The Company saw improvement in same store sales as a result of a targeted promotional strategy that helped drive increased traffic to Company stores. The Company also continues to experience growth in e-commerce sales that are up by more than 20% over the previous comparable period. Gross margin as a percentage of net sales increased to 54. 5 percent in the first q uarter of fiscal 2012, compared to 53. 0 percent in the first quarter of fiscal 2011.The increase in gross margin as a percentage of net sales for the first quarter of fiscal 2012 as compared to the comparable fiscal 2011 period was due primarily to higher full price sales as a percentage of total sales coupled with higher margin rates achieved on both full price and non-full price sales at stores. This performance was the result of improved product offerings, effective marketing initiatives and the success of the Company's strategy to appropriately position inventory levels. ——————————————– ·Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€œÃ‚ · - ·Ã¢â‚¬â€- ———— ·Ã¢â‚¬â€Ã‚ ·Ã‚ ·Ã¢â‚¬â€Ã‚ ·Ã¢â‚¬â€Ã‚ · ——– ·Ã¢â‚¬â€œÃ‚ ·Ã‚ ·- ·Ã‚ ·Ã‚ ·Selling, general and administrative expenses as a percentage of net sales decreased —— — â €”—– ———-ro–48:1 percent; -;n-rhe first quanero jlsCiir20n ;–co paredto5o:g peicenroj ner — — ———– —–f m sales in the first quarter of fiscal 2011. The decrease in selling, general and administrative expenses as a percentage of net sales was primarily due to improved operating leverage as a result of higher net sales, payroll and tenancy related savings associated with the restructuring program, and continued focus on cost savings initiatives.The decrease in selling, general and administrative expenses was partially offset by higher marketing and performance-based compensation expenses. Net income as a percentage of net sales increased to 3. 8 percent in the first quarter of fiscal 2012, compared to 2. 6 percent in the first quarter of fiscal 2011. The increase in net income as a percentage of net sales is due to strong full price selling at Company stores and improved operat ing efficiencies. 85 Anne A~or, Inc. Anne Aylor, Inc.Planning Materiality AsiiiSrnent Year Ended: January 28, 2012 Primary Users of Financial Statements (llat): Reference: Prepared by: Date: Reviewed by: G5 Materla! ltl_Bases On thousands_}: Flscal2011 Actual Financial Statement Bat Amounts Income Before Taxes Net Revenues Current Uabilltles Current Assets—– Total Assets Planning Materiality On thousands): Explanation: Flscal2012 Planning Materiality Levels Projected Upper Limit Lower Limit Financial Dollar Statement Dollar Amount Percent Amounts Percent Amount 2 7 – 2– –0. 5 – –7 2 7 2 0. 5 2 – – – I$ 87 Anne Aylor, Inc. Anne Aylor, Inc. Tolerable Mlutatement Assessment Year Ended: January 28, 2012 Reference: Prepared by: Dale: Reviewed by: G6 Likelihood of Management Fraud (check one): Low Likelihood of Management Fraud Reasonably Low Likelihood of Management Fraud Moderate Likelihood of Management Fraud Tolerab le Misstatement (In thousands): Planning Materiality: Multiplication Factor (0. 75 if low likelihood of management fraud, 0. 50 if reasonably low likelihood of management fraud, and 0. 25 if moderate likelihood of management fraud).Tolerable Misstatement (In thousands) $ X $ :;pee S lflc Accounts Requiring Lower Tolerable Mlsstatement: Account Tolerable Misstatement Explanation;- — —– ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€œÃ‚ ·- ·- ·Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- — —————- · . ——- · —–~– ——— ·- ·Ã‚ ·Ã‚ ·Ã‚ · .†¢. —– ——-â€Å"‘ —- – —- ——- - ·  ·Ã¢â‚¬â€- ·- — – †¦. ——— — ·Ã¢â‚¬â€ —- Explanation: Explanation: Explanation: Explanation: Explanation: 88 Anne Aylor, Inc. Anne Aylor, Inc. Planning Materiality Finan cial Information YearEnded:January28,2012 Reference: Prepared by: G7 Data: Reviewed by: 1/28/2012 1/29/2011Projected Actual All amonts are in thousands 1,355,400 $ $ 1,243,788 Net sales 599,700 562,427 Cost of sales 755,700 681,361 Gross margin 659,800 627,622 SeiUng, general and administrative expenses 3,856 Restructuring charges 0 95,900 Operating income/(loss 49,883 Interest income 700 636 1,200 Interest expense 1,009 95,400 lncome/(loss) before income taxes 49,510 Income tax provlsion/(beneflt) 36,900 18,408 Net lncome/(loss) 58,500 $—-~=-$—=-3a1,~10†¢2 A11ets Current assets Cash and cash equivalents $ 156,600 $ 138,194 . ___ Accountsreceivable ____ - ·Ã¢â‚¬â€Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€- – ·- ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€Ã‚ ·Ã¢â‚¬â€œÃ‚ ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€- ·Ã‚ ·Ã¢â‚¬â€œÃ‚ ·Ã¢â‚¬â€Ã¢â‚¬â€œÃ‚ ·12,100– —— 12,67o- ·-.. —- · Merchandise Inventories 133,800 111,229  ·Refundable Income- taxes- ·Ã¢â‚¬â€-~— · – ·-  ·-  ·- —  ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã¢â‚¬â€œ —- ·- ·Ã‚ ·  ·Ã‚ ·-  ·  ·- · —– ·  ·Ã‚ ·Ã‚ · —- —– – ·  ·- ·- –  ·- · —- —— ·  ·Ã¢â‚¬â€Ã¢â‚¬â€œ18,400 16,394 Deferred income taxes Prepaid expenses and other current assets Total current assets Property and equipment net Deferred financing costs, net Deferred Income taxes Other assets Total assets Uabllltles and Stockholdn' Equity Current llabllltles Accounts payable Accrued salaries and bonus Accrued tenancy Gift certificates and merchandise credits redeemable Accrued expenses and other current Uabilltles Total current liabilities Deferred lease costs Deferred income taxes Long-term performance compensation Other liabilities Total liabilities Stockholders' equity Common stock and paid in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total stockholders' equity . Total liabilities and stoc kholders' equity $

Psycoanalysis essays

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