Pathophysiology Mind Map Assignment

Pathophysiology Mind Map
Pathophysiology Mind Map

Pathophysiology Mind Map

Order Instructions:

As an advanced practice nurse, you will examine patients presenting with a variety of disorders. You must, therefore, understand how the body normally functions so that you can identify when it is reacting to changes. Often, when changes occur in body systems, the body reacts with compensatory mechanisms. These compensatory mechanisms, such as adaptive responses, might be signs and symptoms of alterations or underlying disorders. In the clinical setting, you use these responses, along with other patient factors, to lead you to a diagnosis.

Consider the following scenarios:

Scenario 1:
Jennifer is a 2-year-old female who presents with her mother. Mom is concerned because Jennifer has been “running a temperature” for the last 3 days. Mom says that Jennifer is usually healthy and has no significant medical history. She was in her usual state of good health until 3 days ago when she started to get fussy, would not eat her breakfast, and would not sit still for her favorite television cartoon. Since then she has had a fever off and on, anywhere between 101oF and today’s high of 103.2oF. Mom has been giving her ibuprofen, but when the fever went up to 103.2oF today, she felt that she should come in for evaluation. A physical examination reveals a height and weight appropriate 2-year-old female who appears acutely unwell. Her skin is hot and dry. The tympanic membranes are slightly reddened on the periphery, but otherwise normal in appearance. The throat is erythematous with 4+ tonsils and diffuse exudates. Anterior cervical nodes are readily palpable and clearly tender to touch on the left side. The child indicates that her throat hurts “a lot” and it is painful to swallow. Vital signs reveal a temperature of 102.8oF, a pulse of 128 beats per minute, and a respiratory rate of 24 beats per minute.

Scenario 2:
Jack is a 27-year-old male who presents with redness and irritation of his hands. He reports that he has never had a problem like this before, but about 2 weeks ago he noticed that both his hands seemed to be really red and flaky. He denies any discomfort, stating that sometimes they feel “a little bit hot,” but otherwise they feel fine. He does not understand why they are so red. His wife told him that he might have an allergy and he should get some steroid cream. Jack has no known allergies and no significant medical history except for recurrent ear infections as a child. He denies any traumatic injury or known exposure to irritants. He is a maintenance engineer in a newspaper building and admits that he often works with abrasive solvents and chemicals. Normally he wears protective gloves, but lately they seem to be in short supply so sometimes he does not use them. He has exposed his hands to some of these cleaning fluids, but says that it never hurt and he always washed his hands when he was finished.

Scenario 3:
Martha is a 65-year-old woman who recently retired from her job as an administrative assistant at a local hospital. Her medical history is significant for hypertension, which has been controlled for years with hydrochlorothiazide. She reports that lately she is having a lot of trouble sleeping, she occasionally feels like she has a “racing heartbeat,” and she is losing her appetite. She emphasizes that she is not hungry like she used to be. The only significant change that has occurred lately in her life is that her 87-year-old mother moved into her home a few years ago. Mom had always been healthy, but she fell down a flight of stairs and broke her hip. Her recovery was a difficult one, as she has lost a lot of mobility and independence and needs to rely on her daughter for assistance with activities of daily living. Martha says it is not the retirement she dreamed about, but she is an only child and is happy to care for her mother. Mom wakes up early in the morning, likes to bathe every day, and has always eaten 5 small meals daily. Martha has to put a lot of time into caring for her mother, so it is almost a “blessing” that Martha is sleeping and eating less. She is worried about her own health though and wants to know why, at her age, she suddenly needs less sleep.

To prepare:
•Review the three scenarios, as well as Chapter 6 in the Huether and McCance text.
•Identify the pathophysiology of the disorders presented in the scenarios, including their associated alterations. Consider the adaptive responses to the alterations.
•Review the “Mind Maps—Dementia, Endocarditis, and Gastro-oesophageal Reflux Disease (GERD)” media in this week’s Learning Resources. Then select one of the disorders you identified from the scenarios. Use the examples in the media as a guide to construct a mind map for the disorder you selected. Consider the epidemiology, pathophysiology, risk factors, clinical presentation, and diagnosis of the disorder, as well as any adaptive responses to alterations.

To complete:

Write a 2- to 3-page paper that addresses the following:
•Explain the pathophysiology of the disorders depicted in the scenarios, including their associated alterations. Be sure to describe the patients’ adaptive responses to the alterations.
•Construct a mind map of your selected disorder. Include the epidemiology, pathophysiology, risk factors, clinical presentation, and diagnosis of the disorder, as well as any adaptive responses to alterations.

This Assignment is due by Day 7 of Week 2.

SAMPLE ANSWER

Pathophysiology Mind Map

The body employs certain mechanisms to overcome pathological conditions. In some situations, the mechanisms that the body applies end up causing disease. The body applies mechanisms that counter the effects of pathological processes. Patients may realize that they are sick after observing the outcomes of the response processes. Nurses and other clinical care providers also use the signs in their diagnoses for diseases. It is often possible to determine pathological situations depending on the mechanisms that the body employs as response. Normal physiological processes in the body occur in a certain manner, and illnesses alter their pattern. The changes observed under disease are important in diagnoses, especially when coupled with patient history and risk factors.

The disease condition in Jenifer’s case presents with hypertension, fever, restlessness, swollen lymph nodes and sore throat. Jenifer also has erythematous on her throat, and she experiences swollen lymph nodes. Fever, high pulse and heart rate are common signs of a wide variety of diseases (“Fever, headache, high rate of breathing, and rapid pulse”, 2015). In patients of hypertension, the rate at which the blood flows from the heart to other organs is elevated. The pathological condition subjects the heart and blood vessels to straining. Under normal situations, pediatrics of Jennifer’s age exhibit a heartbeat of 80 to 120 beats in a minute (Wedro, 2013, Pg. 1). Under hypertensive situations, the heart has to pump blood faster and patients can record a heartbeat as high as 128 beats in a minute as seen with Jennifer. Hypertension causes a number of alterations on the normal body functioning. Other body processes may have to happen at a faster rate than normal. Too much blood passing through vessels within a short while could, for instance, require vessels to offer a larger volume to allow for flow. The body adapts to hypertension by making changes such as vasodilation. When the blood vessels are dilated, they allow for more blood to pass through. Too much blood in the vessels causes reddening of body surfaces. In Jennifer’s case, surface that redden include tympanic membranes. Drying of the skin could also be a mechanism that the body employs to lose excessive heat. Jenifer has fever, and the drying of her skin allows her to lose water and heat at the same time. However, the condition could also depict more serious health conditions such as thyroid insufficiency (Mirror.co.uk, 2012).

The pathological condition in Jack’s case presents with reddening of the hands. Blood capillaries in the patients are likely to be softened. When too soft, the vessels may dilate easily to contain lager volumes of blood. The corrosive agents that Jack works with are likely to have caused softening of the capillary walls. When the capillary walls are too soft, they may rupture when subjected to pressure. Body alterations that occur with dilated blood capillaries include higher than normal blood flow to the affected region. Dilated vessels have large volumes and decreased pressure. To match the decreased blood pressure, the body adapts by allowing more blood to flow into the affected vessels. The occurrence causes surfaces to appear red, but patients may not necessarily experience pain as in jack’s case. Hardening of capillary walls could reduce their tendency to rupture. Abnormal reddening of hands may also imply underlying blood disorders. In most cases, reddening may occur with easy bruising, suggesting problems such as blood clotting insufficiency. Hormonal imbalances that result with liver damages could also cause reddening of the palms (Mirror.co.uk, 2012). There are also other conditions that could cause reddening of the hands. While the condition may seem petty as there is no pain associated with it, it could be a symptom of serious health abnormalities. Other disease situations that could cause reddening of the hands include thyroid diseases and rheumatoid arthritis (Mirror.co.uk, 2012).

Martha’s disease presents with abnormalities such as sleep apnea, elevated heart rate, as well as loss of appetite. Her history suggests high chances of hypertension being the underlying disease condition. Too many commitments, as seen in caring for an elderly in Martha’s case, could cause the disruption of sleep and eating behavior. Loss of sleep could cause depression in patients, which may in turn lead to decreased appetite for food as in Martha’s case. To adapt to loss of appetite, the body consumes less energy and patients may become less active. Adaptations for elevated heart rate include vasodilation. Patients with sleep apnea experience inactivity and depression as a response mechanism. On the other hand, depression could be that cause of sleep apnea (Rubin, 2012).

Hypertension Mind Map

 

    Physiological and pathological  conditions

old age, obesity, diabetes

Risk factors

 

Environmental factors

Fatty diets

High consumption of low density cholesterol, trauma, too heavy physical activities

 

epidemiology

 

Signs and symptoms:

High pulse rate, high heartbeat, loss of sleep

 

pathophysiology
hypertension Adaptive responses:

Vasodilation, increased rate of metabolic processes

diagnoses
Patient history:

Previous diagnoses

Clinical presentations:

Increased heart rate, high pulse rate, fever, restlessness,

 

References

Fever, headache, high rate of breathing, and rapid pulse. (2015). WebMD. Retrieved from http://symptomchecker.webmd.com/multiple-symptoms?symptoms=fever|headache|rapid-breathing|rapid-heart-rate-%28pulse%29&symptomids=102|115|269|184&locations=2|2|14|14

Mirror.co.uk (2012). Your health is in your hands. Retrieved from http://www.mirror.co.uk/lifestyle/health/how-changes-to-hands-can-point-940103

Rubin, R. (2012). WebMD. Retrieved from http://www.webmd.com/sleep-disorders/sleep-apnea/news/20120330/sleep-apnea-linked-depression

Wedro, B. (2014). Medicine health. Retrieved from http://www.emedicinehealth.com/pediatric_vital_signs/article_em.htm

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Performance measurement in The Netherlands police

Performance measurement in The Netherlands police
Performance measurement in The Netherlands police

 Performance measurement in The Netherlands police

Order Instructions:

Dear Admin,

Note: To prepare for this essay please read the required articles that is attached then answer the following questions:

1)Evaluate the findings of the authors in regards to the validity of introducing performance contracts into a branch of government in The Netherlands.

2)Analyse the effectiveness of the performance measurement system discussed in terms of crime and employee satisfaction.

3)Support your argument with evidence from the study and other real examples where possible.

4)Keep in mind this is a public organization and not a business firm.

Also,

1)The answer must raise appropriate critical questions.

2)Do include all your references, as per the Harvard Referencing System,

3)Please don’t use Wikipedia web site.

4)I need examples from peer reviewed articles or researches.

5) Turnitin.com copy percentage must be 10% or less.

Note: To prepare for this essay please read the required articles that is attached

Appreciate each single moment you spend in writing my paper

Best regards

SAMPLE ANSWER

Performance measurement in The Netherlands police

The success of performance contracts in managing government operations, especially in the police department, are disputed by the authors, who note that the performance based contracts are informed by political environment and do not represent the ideal approach to enhancing performance. Obvious question that arise are: is the performance contract system sustainable? And what happens when a different political office with varying ideologies comes in? The argument by the authors is well calculated and this can be explained by the fact that government agency operations are influenced highly by the office in place and policies are bound to change with each elected government office. This explains the fear that officials in the police department have that the situation may change with political reasons.

The fact that performance contracts in the Netherlands government is highly politicized leads to a question on whether this system is for the benefit of the citizens or for the government officials. In their argument, Hoogenboezem  and Hoogenboezem (2005, p. 573) quote the Mayor of Beverwijk who notes that the systems will not work to make Netherlands safer while the Mayor of Utrecht is of the opinion that the performance measurement requirements are just a public relations instrument. In support of this argument, it can be established that for any system of performance improvement to work, there must be well set goals and objectives that the organization seeks to achieve as well as well articulated plans on how this will be achieved (Binderkrantz and Christensen, 2009, p. 287-291). Such plans must include assuring employees of what is expected of them as opposed to imposing targets. In the case of Netherlands, it is apparent that there is no clear goal for using performance contracts as it is mostly for the government to remain popular among voters. This means that the measures may not be taken seriously by the executors as observed in the case of the two mayors and this would result to poor performance.

The authors argue that this system makes executing officers feel trapped between achieving specific targets and exercising their personal responsibilities as police experts. This is because as much as they are expected to meet targets, police work is not systematic and there are many random duties that police must execute in enhancing the safety of the nation. These may not necessarily be in the performance contract and this may lead officers to feeling like their efforts are not being fully recognized. This argument is not only valid but it can also be related to studies on motivation and job satisfaction. Binderkrantz and Christensen (2009, p. 270) note that while contracts exist, decisions made by supervisors may often override targets as set in the contract and hence contracts cannot be fully considered complete or precise. It therefore poses a dilemma for employees who find that the extra duties do not feed into their performance outcomes. In a similar argument, Tan, S, & Lau (2012, p. 60-61) introduce the concept of procedural fairness and suggest that in order improve job satisfaction, the organization must make the performance measurement procedures as fair as possible. Gauging police officers based on targets only therefore deviates from this goal.

Imposing targets without proper consideration of the consequences that these are likely to have on the organization’s performance may lead to unintended outcomes as established by Crede et al (2009, p. 247) This is because employees are likely to focus on targets and give little attention to quality of service and they may end up taking up unscrupulous behaviors in a bid to meet their targets. The requirement of police to reach a certain targeted number of fines as explained in this article is not only detrimental to the department’s ability to improve services but it has also led to mistrust among citizens. An example as given by Hoogenboezem and Hoogenboezem  (2009, p. 574-575) is that the police in a bid to meet targets have been forced to give fines even in situations which could have been solved differently.  They note that the public is offended that police officers are more concerned with fine-writing in order to meet their targets and thus neglected the fundamental duty of maintaining security and safety. This phenomena is further explained by Melnik, Petrella and Richez-Battesti (2013, p 1301-1302) who note that organizations must ensure that the performance measures put in place will work as desired to improve treatment outcomes.

The impact of performance systems on the police department can further be analyzed in terms of employee satisfaction. The use of performance contracts has been proved to have both negative and positive impact on employee satisfaction (Dusterhoff, Cunningham and MacGregor, 2014, p. 267). In this case for example, it is apparent that the use of set performance targets does not lead to increased motivation for employees. This is because police work to a significant extent involves prevention of crime; which may often pass without being noticed. Police men may therefore feel like their work is not being recognized or included in the performance management system. This may result in poor performance among the employees as they may feel like they are not being merited based on their actual performance.

Cullen et al (2014, p. 271) question employee adaptability to uncertainty related to change and link this to overall job satisfaction and performance. The dilemma that employees are caught up in is ‘will the changes in the system lead to different expectations and how can one be satisfied with their job if the future is so uncertain?’ This is a major cause of concern in the police department, given that the use of performance contracting is highly political and has been introduced by the government as a means of meeting voter demands. However, what happens once the current administration leaves office? Will the police be subjected to a different performance system with different expectations? Such uncertainty as established by Cullen et al (2014, p. 276) may lead to low job satisfaction and consequently low levels of performance besides high employee turnover. This can only be reverted if the organization constantly offers support to employees that will reduce perceived uncertainty.

Performance contracts may have positive impact on employee performance if they are linked to a reward system as noted by Chomal and Baruah (2014, p. 59). In their research, they establish that employees are likely to be more committed to the organization if there is promise of a reward based on their performance. In the case of Netherlands therefore, it is imperative that the government considers enhancing police officers’ remuneration in order to promote job satisfaction.

In conclusion, the performance measurement system discussed in this paper could either have a positive or negative impact on crime depending on how it is executed. The authors suggest that police work is more than routine; and targets based on fines may lead to a diversion of the police’s core objective of crime prevention. Performance measurement leads employees to focus only on set goals and this means that they do not utilize their full potential which would otherwise lead to better job outcomes. This can be directly translated in the police department where police may work more towards meeting set targets and neglect some of their undocumented roles; thus leading to poorer crime management.

Reference list

Binderkrantz, A, & Christensen, J 2009, ‘Delegation without Agency Loss? The Use of Performance Contracts in Danish Central Government’, Governance, 22, 2, pp. 263-293, Business Source Complete, EBSCOhost, viewed 18 June 2015  Retrieved from http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=45b7f37d-28f8-488a-92e3-5459452d94af%40sessionmgr115&vid=1&hid=117

Chomal, N, & Baruah, P 2014, ‘Performance Linked Reward and Job Satisfaction: Banking Sector’, SCMS Journal Of Indian Management, 11, 4, pp. 53-60, Business Source Complete, EBSCOhost, viewed 18 June 2015. Retrieved from http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=25f9c689-2769-4895-a43a-6e7e53c93d92%40sessionmgr113&vid=1&hid=117

Credé, M, Chernyshenko, O, Bagraim, J, & Sully, M 2009, ‘Contextual Performance and the Job Satisfaction-Dissatisfaction Distinction: Examining Artifacts and Utility’, Human Performance, 22, 3, pp. 246-272, Business Source Complete, EBSCOhost, viewed 18 June 2015. Retrieved from http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=836066b8-58b7-4c6d-851a-9f651d9862e4%40sessionmgr112&vid=1&hid=117

Cullen, K, Edwards, B, Casper, W, & Gue, K 2014, ‘Employees’ Adaptability and Perceptions of Change-Related Uncertainty: Implications for Perceived Organizational Support, Job Satisfaction, and Performance’, Journal Of Business & Psychology, 29, 2, pp. 269-280, Business Source Complete, EBSCOhost, viewed 18 June 2015. Retrieved from http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=c483383d-2dc6-4592-8bca-66d6be4f5e17%40sessionmgr112&vid=1&hid=117

Dusterhoff, C, Cunningham, J, & MacGregor, J 2014, ‘The Effects of Performance Rating, Leader-Member Exchange, Perceived Utility, and Organizational Justice on Performance Appraisal Satisfaction: Applying a Moral Judgment Perspective’, Journal Of Business Ethics, 119, 2, pp. 265-273, Business Source Complete, EBSCOhost, viewed 18 June 2015. Retrieved from http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=8b889a2e-929b-48e3-885c-d5b5fad7a8f8%40sessionmgr111&vid=1&hid=117

Melnik, E, Petrella, F, & Richez-Battesti, N 2013, ‘Does the professionalism of management practices in nonprofits and for-profits affect job satisfaction?’, International Journal Of Human Resource Management, 24, 6, pp. 1300-1321, Business Source Complete, EBSCOhost, viewed 18 June 2015. Retrieved from http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=a5a7b3cd-7490-4a01-afbb-10d62688606a%40sessionmgr198&vid=1&hid=117

Tan, S, & Lau, C 2012, ‘The Impact of Performance Measures on Employee Fairness Perceptions, Job Satisfaction and Organisational Commitment’, Journal Of Applied Management Accounting Research, 10, 2, pp. 57-72, Business Source Complete, EBSCOhost, viewed 18 June 2015. http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=4d50f915-59d4-48f9-aa5b-66c623d6f711%40sessionmgr110&vid=1&hid=117

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Choosing a Performance Measurement Approach

Choosing a Performance Measurement Approach
Choosing a Performance Measurement Approach

Choosing a Performance Measurement Approach at Paychex, Inc.

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Dear Admin,

Please read the following:

CASE STUDY Choosing a Performance Measurement Approach at Paychex, Inc.
The following job description is for an account executive at Paychex, Inc. (www.paychex.com). Paychex, Inc., is a leading national provider of payroll, human resources, and benefits outsourcing solutions for small- to medium-sized businesses. Paychex is headquartered in Rochester, New York, but the company has more than 100 offices and serves hundreds of thousands of clients nationwide. Because account executives often make sales calls individually, their managers do not always directly observe their performance. Furthermore, managers are also responsible for sales in their markets and for staying up-to-date on payroll laws. However, account executives are responsible for training new account executives and networking in the industries in which they sell products. For example, if an account manager is responsible for retail companies, then that account executive is expected to attend retail trade shows and professional meetings to identify potential clients and to stay current with the issues facing the retail industry.

ACCOUNT EXECUTIVE JOB RESPONSIBILITIES

•• Performing client needs analysis to ensure that the major market services product can meet a client’s requirements and expectations.

•• Establishing clients on the host processing system.

•• Acting as primary contact for the client during the conversion process.

•• Supporting clients during the first few payrolls.

•• Completing the required documentation to turn the client over to customer service for ongoing support.

•• Scheduling and making client calls and, when necessary, supporting sales representatives in presales efforts.

•• Keeping abreast of the major market services system and software changes, major changes and trends in the PC industry, and changes in wage and tax law.

Then answer the following questions:

1)What approach do you think Paychex should use to measure performance? Give reasons for your answer.

2)Is it important to consider developing good relationships within the industry?

3)Should we consider an absolute or comparative system?

4)Consider that the results of doing so may not pay off immediately or translate directly into sales. That could be a problem on your performance review!

Also,

1) The answer must raise appropriate critical questions.

2) Do include all your references, as per the Harvard Referencing System,

3) Please don’t use Wikipedia web site.

4) I need examples from peer reviewed articles or researches.

5) Turnitin.com copy percentage must be 10% or less.

Appreciate each single moment you spend in writing my paper

Best regards

SAMPLE ANSWER

Performance measurement plays an important role in an organization as it provides a tool for both supervisors and managers to gauge employee performance. Furthermore, Performance measurement is paramount to enable managers to find out if employees can meet organization goals. Performance measurement can be defined as a practice of analyzing, collecting and reporting individual performance in a company (Bititci et al., 2012 pg 208). It involves analyzing company’s processes to find if the business processes output are consistent with the objectives of the company.

However, this paper focuses on coming up with the most appropriate Performance Measurement Approach that can be used by Paychex Inc managers to assess account executives. Furthermore, this article discusses the ideology that developing good relationships within the industry is of dire importance for the success of Paychex, Inc.

Be as it may, account executives at Paychex, Inc work at different offices nationwide apart from working at the headquarters office which is situated at Rochester. They incur minimum supervision from their managers. They perform different duties such as training of new account executives, establishing clients on the host processing system, supporting new clients during the initial stages in receiving payrolls and performing the client need analysis. Furthermore, it is their duty to perform administrative functions such as documentation, scheduling and receiving client calls among many other duties. Due to the nature of account executive duties, it is best for managers to assess account executive performance using the Result Based Approach.

The result Based Performance approach is the best for this case given the nature of job executives who work at Paychex, Inc. That is, account executives work with minimal supervision from the managers. Hence, the managers should analyze results of their duties in the organization to assess their performance.

Result Based Approach is efficient for measuring the performance of employees who work with little or no supervision. Managers can begin by identifying account executive goals and list the resources required for the account executives to achieve this goal. The employee performance is gauged by the number of goals he/she has accomplished within the stipulated time frame. To achieve this goal, managers can employ Management by Objectives technique as one of the tools to measure performance using Result Based Approach. Managers at Paychex can come up with corporate goals, set and align account executive goals, monitor their performance and measure their performance based on their outcome (Searcy, 2012 pg 247). Also, managers should reward account executives who perform best to encourage them to perform even better at work.

Results based approach is advantageous because; takes less time, the cost of performance measurement is low, and the information collected are objective oriented (Zairi, 2012 pg 94). This approach is appropriate for assessing executive because: they are skilled in the necessary behavior. Behaviors defining account executives and the results of their jobs are related. It is expected that account executives should always exhibit a consistent improvement in their results over time. Managers also expect account executives to do their duties in the right way and ethically.

Having a good relationship between an organization and external business environment plays an important role in creating an enabling environment for business. The success of a company in business activities depends on developing a good and strong relationship with other companies within the industry. Good organization relationship with the external environment helps an organization to fill gaps within the market and, therefore, enable an organization to focus on producing core products and services.

Paychex Inc can enjoy the following by having a good relationship with other organization within the industry. Having a good relationship with other key players within the industry can enable an organization to access resources such as raw material, capital, intellectual property, buildings and many others (Rice, 2013 pg 64). A good relationship with other organizations within the industry can help the organization to expand into the international market. This expansion would not have been easy without having a good relationship within the industry. A good relationship with clients enables a company to develop products that fit customer needs. Therefore, the company will be able to develop better products that are tailored towards the customer needs and hence fit the entire market. Companies often work under the umbrella of industrial associations to help in increasing credibility. On the same note, industrial associations help companies to spread risks and rewards as well as increase the rate of adoption of new technology and innovations (Rice, 2013 pg 92).

Furthermore, good relationship in the internal environment can help a company to improve teamwork, employee morale and, therefore, increase the company productivity. Teamwork often results in better performance by employees.  A dynamic team of well-motivated employees plays an important role in improving the organization’s reputation and improve the organization sustainability.

For Paychex, Inc it is best for them to employ absolute standards appraisal method as compared to a comparative system. Absolute standard systems employ appraisal methods such as Behaviorally Anchored Rating Scale (BARS), Management by Objectives (MBO) and Critical Incidents.  Behaviorally Anchored Rating Scales (BARS) compares individual performance in the workplace against specific examples of traits that are anchored to numerical ratings. The best appraisal tool for evaluating account executive is Management by Objectives (MBO). MBO measures actual performance and achievement against the defined objectives (Carmen, 2014 pg 438). Therefore, Management by Objectives is ideal because it aligns organizations objectives with the quantitative measures such as profits and defects in units produced as well as the number of sales. Management by Objectives is beneficial because it improves employee commitment and motivation. In our case, it also ensures better communication between the managers and account executives. However, it as a weakness as it emphasizes more on attaining set objectives rather than having a systematic plan of attaining such objectives (Austin, 2013 pg 67).

The issue of results not paying off immediately or translate directly into sales may not be a challenge on performance review. This is because result based approach does not focus only on the short run results but the long run. MBO focuses on the set objective and working towards the attainment of long-run goals rather than short-run (Bititci et al., 2012 pg 307).

To conclude, the best performance measurement approach that can be adopted to measure the performance of account executive is the results-based approach. This is because it is less costly, objective oriented and takes less time to measure performance. Be as it may, organizations should have good relationships within the industry it operates. This feature enables an organization to network and acquire items that would not have been otherwise easy. As a final point,  Paychex should employ absolute standard method of performance appraisal such as Management by Objectives (MBO)

References

Austin, R. D. (2013). Measuring and managing performance in organizations. Addison-Wesley.   http://ptgmedia.pearsoncmg.com/images/9780133492071/samplepages/0133492079.pdf

Searcy, C. (2012). Corporate sustainability performance measurement systems: a review and research agenda. Journal of business ethics107(3), 239-253.

Bititci, U., Garengo, P., Dörfler, V., & Nudurupati, S. (2012). Performance measurement: Challenges for tomorrow*. International Journal of Management Reviews14(3), 305-327.

Zairi, M. (2012). Measuring performance for business results. Springer Science & Business Media.

Carmen, A. (2014). Management by Objectives. Ovidius University Annals, Economic Sciences Series14(1), 433-436.

Rice, A. L. (2013). The enterprise and its environment: A system theory of management organization (Vol. 10). Routledge.

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Nursing and nurse care plan essay Paper

 

Nursing and nurse care plan essay
Nursing and nurse care plan essay

Nursing and nurse care plan essay

Nursing and nurse care plan essay

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SAMPLE ANSWER

Nursing: Part 1

Nursing process are standards and guidelines which are used by nurse practitioner to deliver quality care, healthcare that is patient centered. Nursing profession is a complex profession which brings aspects of art and sciences together. Nursing profession is concerned in protecting, promoting people’s overall wellbeing including physical, emotional and psychological wellbeing. The concept of nursing process is eccentric to all nurses; the process involves five steps; a) Nurse assessment; b) nursing diagnosis; c) nursing planning and identification of outcome; d) nursing implementation; e) nursing evaluation (Lee, 2010).

The first step of nursing process is assessment. This entails collection of information and data related to a certain matter or event. Nurse practitioners are required to conduct holistic care on the patient including their cultural background, their religious and social norms. This is to ensure that the interventions established are culturally and socially competent and to establish the exact care demands of a person (Svavarsdottir et al., 2014).  The information gathered during the assessment phase are organized and documented, for use in the future. The second step is nursing diagnosis. This entails reviewing the information collected during the assessment more critically. This way, the actual issue of concern is identified, and prognosis is done in accordance to the clinical manifestation of disease.  This is also involves identification of risk factors that motivates progression of the disease (Lu et al., 2015).

The next step is nursing planning which involves designing interventions by establishing priorities, identifying objectives that will facilitate provision of expected outcome. The planning process entails identification of interventions as established by evidence based research (RodraA-guez-Martan et al/, 2015). An effective action plan is one which is guided by Maslow’s hierarchy of needs.  This involves provision of care as guided by the ladder of needs, and until all patient demands or needs are identified.  Evaluation process is the last step of nursing process. It involves measuring of interventions and expected outcome to check if they are congruent with implementation plan. If the outcome is not positive, the interventions can be altered accordingly (Vaillant-Roussel et al., 2014).

Nursing Interventions Classification (NIC), direct nursing interventions include activities which directly interact with the service user. These include interventions such as administering therapy to patient suffering from dementia or Parkinson disease (Svavarsdottir et al., 2014). Indirect nursing interventions are nursing practices that aim at improving patient’s health, but the patient is not directly involved. For instance, the healthcare facility can introduce an automated system to curb medication errors. Additionally, nursing interventions can be grouped into three categories (Lee, 2010). The first category is the interdependent interventions which include activities implemented through partnership and effective communication among the healthcare staff. These include actions such as recommendation of non invasive surgery for patients suffering from renal diseases. These interventions are only carried out if all other alternative therapy has failed, and it involves lots of consultation.  The dependent interventions include all nursing practices done only under instructions from the higher authority. This could be termination of service user medication due to medication error or allergic reactions to medications. Lastly, the independent intervention which entails nursing actions performed by nurses without need for permission from the higher authority; and includes all nurse practices under nurse practice (Vaillant-Roussel et al., 2014).

The importance of nursing process is that it guides registered nurse when making healthcare decisions. This is particularly important when making patient centered and culturally competent decisions. This process ensures that the registered nurses can identify the nursing issue, its etiology as well as analyze appropriate risk factors. From the information collected, registered nurse is in a position to design a patient centered plan of action, in an organized and structured process. In this framework, the expected outcomes are focused and oriented towards providing quality care. In each step, the registered nurse must document the information for effective communication and for future use. Evaluation process is important because it helps in analyzing the effectiveness of an intervention. If the action plan goals are inadequately achieve, then the healthcare providers should collaborate and work jointly to identify the underlying barriers which need to be re-evaluated and addressed (Svavarsdottir et al., 2014).

Some of the variables associated with ineffective outcomes include inaccurate assessment and data gathering processes; because some relevant information such as cultural aspects is more likely to be overlooked. In other situation, the interventions and the expected outcome could be unreasonable and somewhat unrealistic. In this case, the registered nurse is required to address the interventions and the expected outcome to ensure that they are congruent. This is done through modification of the assessment plan, diagnosis or even the implementation process. If necessary, the registered nurse can include other healthcare staff to contribute on the most effective ideologies which will bring forth successful interventions as outlined by evidence based research. This also involves thorough and adequate research which will inform the registered nurse adequately on ways and an appropriate strategy to identify the health issue, effective action plan and approaches to obtain the best conclusions (Lu et al., 2015).

Part 2: Nurse Care Plan

Assessment

Patient A resides in a residential care. The patient is 78 years old and has been experiencing mobility complications. For this reason, the patient movement is restricted and opts to use mobility supportive device i.e. wheel chair for movement. The patient is able to carry out the daily living activities such as bathing, dressing and feeding. The patient seems distressed and is often in isolation. The patient medical history is that he has suffered from Congestive Heart Failure (CHF); and has been diagnosed with associated pathologies such as hypertension, weakness in the lower extremities and hyperlipidemia.  Previously, the patient was prescribed the following medication such as Atorvastatin 20mg, Lopressor 50mg, Quinapril 20mg and Furosemide 20mg.

The patient current medication includes double dosage of Quinapril and Furosemide at 40mg, Metoprolol 50mg which are administered orally, and 1.5g in 0.9% normal saline (50Ml) given three times a day. Recent regular check up, the registered nurse reported a pressure ulcer on the patient’s right side of the buttock. The ulcer coloration is red with yellow spots, and is estimated to be 10mm by 8mm; and also produces foul smell. Result from culture analysis indicates that the wound is infected by Methicillin resistant Staphylococcus aureus. The physician ordered for debridement of the black tissue, and daily dressing using antimicrobial gel (SilvaSorb).

NANDA-1 nursing diagnosis

Acute pain due to trauma on the tissue is reported; scored at 6 on 0-10 pain scale.

Risk for pressure ulcer due to tissue trauma associated with minimal movement to reduce the pressure.

Assessment data

Vital Signs: Temperature 36.70C; RR 23/Min; HRT 89 BPM; Bp 120/80.

Skin; Dry and Pale, Pupils dilated, experiences muscle cramp; Joint Movement, gastrointestinal system, urogenital systems and neurovascular system are intact.

Expected outcome

 The expected outcome are Cognitive outcome- verbalize relieve pain  to 2 in a 0-10 verbal pain scale and discomfort while sitting or sleeping; physiologic and affective outcome- the patient is educated on ways to prevent  progression of pressure ulcer and minimize occurrence of such incidences in the future. The skin integument healing system could take a longer time frame due to the patient attributes i.e. age and chronic infection which reacts negatively to the patient immune system. In this context, the pan relief is expected to be achieved within 48hours, and healing of the wound within 5 days.

Nursing intervention

Nurse initiated: Identify the main risk factor for pressure ulcer. This includes recording of agility to monitor patient pattern of movement; and evaluate other mobility supportive devices available other than use of wheel chair.  Use of alginate dressings to reduce exudates as well as lengthening the wound wears time.

Rationale: This is to establish the most effective strategy to minimize progression of pressure ulcers, and improvise ways to ensure that patient moves frequently or avoid sitting for a long period of time. This is to ensure that the patient does not remain in one position for a long time.

Interdependent intervention:  protect the ulcer with silicone dressings to relieve pain, effective transition of patient to the residential facility including exchange or effective communication with the residential facility nurse to ensure that the identified nutritional and exercise strategies are adhered to.

Rationale: This is to ensure that the patient feels comfortable during the healing process.   This also ensure that evidence based practice is followed; with the aim of rapid healing process and reduce the progression of disease through interdisciplinary efforts.

Dependent intervention:  administration of antibiotics as reported evidence based practice. Rationale: this will help the patient self manage the ulcer pressure, as well as reduce the progression of disease.  Use of hydrogel with the aim of soothing painful pressure ulcers; use of antimicrobial dressings so as to control the odor and bioburden. Clean of the peri-ulcer tissue to devitalize the dead tissue and to control the known microbial infection well known for colonization.

The patient will be educated on ways to modify behavior such as mild physical exercises and nutritional modification which will facilitate faster healing rate. For instance, the patient can be taught on approached to redistribute pressure. This includes periodic intervals turn as guided by the patient’s wish or tolerance and the type of support surface.  Evidence research practice indicates that the patient should be repositioned after every two hours. The support surface can be modified using repositioning mattresses e.g. visco-elastic foam, pillows, chair cushion.

The patient should be educated on ways to maintain the skin hydrated and the nutritional supplements compatible with the patient healthcare.  This includes a lot of protein supplements to facilitate faster healing rate. Additionally, the patient should be advised on ways to take care of the skin. This includes applying of emollients as indicated by the manufacturer.

Rationale: this includes nutritional modification and mild physical activeness to cure, reduce progression and prevent further formation of pressure ulcer.

Part 3: Patient teaching plan

Research indicates that the best healthcare services involve partnership between the service user and the service provider. This is because it establishes a strong bond of trust; thereby strengthening their relationship which improves quality of care. The core factor for a successful partnership is communication. Appropriate communication ensures that the patient’s demands are identified by the service provider, and they are adequately addressed. The best approach of communication is through patient education program (Vaillant-Roussel et al., 2014). This program empowers patients such that they can self manage the health complication with ease. This improves their self esteem and self image. In this context, the registered nurse is mandated to design a teaching plan that would educate the patient with ease. During the designing process, several variables must be put into consideration including the patient age, gender, ethnic background due to language barrier, education and socio economic background. This is important because the nurse can identify with the patient, and can design education material which is custom made for that particular patient. These variables also help the registered nurse in choosing the format of teaching i.e. verbal, written or audio-visual format (Jackson, 2008).

The registered nurses assess the patient specific demands from the patient medical history. Based on the findings from the assessment report, the registered nurse can apply at least three approaches namely cognitive, affective and psychomotor. The psychomotor approach is applied to patients whose educational background is low as it entails physical teaching of the interventions e.g. how to use mobility devices. The affective teaching is the most widely used approach because it is more patient centered. This approach integrates the social cultural beliefs into the clinical interventions (Kehrel, 2015).

The cognitive approach is uses cognitive functions and is mainly used to assess the memory and adaptability of a patient. This approach is commonly used in youths and individuals whose cognitive function is in good condition.  Secondly, the registered nurse is required to set both short term and long term goals. People who are closely related to the patient such as care givers should be incorporated in the teaching process. Evaluation process is important because it checks if patients’ understands the concepts taught. This also facilitates to assess the patients strengths as well as weaknesses (Vaillant-Roussel et al., 2014). There are various tools for assessment including interviews, observations or use of questionnaires. These tools record data that will enhance the teaching plan of a patient. In cases where the patient fails to remember or understand the concepts, the registered nurse should revise the teaching design, and if necessary seek more information from literature and peers on the evidence based research and strategies to solve the issue, and to ensure that the patient can effectively manage their healthcare complication (Fleming, 2014).

References

Fleming, J. (2014). A Future for Adult Educators in Patient Education. Adult Learning, 25(4), 166-168. doi:10.1177/1045159514546217

Kehrel, U. (2015). The acceptance of process innovations in drug supply – An empirical analysis of patient-individualized blister packaging in stationary nursing facilities. International Journal Of Healthcare Management, 8(1), 58-63. doi:10.1179/2047971914y.0000000085

Jackson, M. (2008). Fundamentals of Nursing: Concepts, Process and PracticeFundamentals of Nursing: Concepts, Process and Practice. Nursing Standard, 22(32), 30-30. doi:10.7748/ns2008.04.22.32.30.b744

Lee, N. (2010). The Research Process in Nursing – Sixth editionThe Research Process in Nursing – Sixth edition. Nursing Standard, 24(46), 31-31. doi:10.7748/ns2010.07.24.46.31.b1086

Lu, C., Tang, S., Lei, Y., Zhang, M., Lin, W., Ding, S., & Wang, P. (2015). Community-based interventions in hypertensive patients: a comparison of three health education strategies. BMC Public Health, 15(1). doi:10.1186/s12889-015-1401-6

Rodríguez-Martín, B., Stolt, M., Katajisto, J., & Suhonen, R. (2015). Nurses’ characteristics and organisational factors associated with their assessments of individualised care in care institutions for older people. Scandinavian Journal Of Caring Sciences, n/a-n/a. doi:10.1111/scs.12235

Svavarsdottir, E., Sigurdardottir, A., Konradsdottir, E., Stefansdottir, A., Sveinbjarnardottir, E., & Ketilsdottir, A. et al. (2014). The Process of Translating Family Nursing Knowledge Into Clinical Practice. Journal Of Nursing Scholarship, 47(1), 5-15. doi:10.1111/jnu.12108

Vaillant-Roussel, H., Laporte, C., Pereira, B., Tanguy, G., Cassagnes, J., & Ruivard, M. et al. (2014). Patient education in chronic heart failure in primary care (ETIC) and its impact on patient quality of life: design of a cluster randomised trial. BMC Family Practice, 15(1). doi:10.1186/s12875-014-0208-3

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The Dhammapada Essay Assignment

The Dhammapada
                  The Dhammapada

The Dhammapada

Readings:
The Dhammapada

Paper Question:
How is a good Buddhist depicted in the Dhammapada? Are there features of this depiction that fit with the images? That fit with the narrative depictions in art? Or are the two (teachings and art) quite different?

SAMPLE ANSWER

The Dharmapada is a religious book that is used by people who practice the Buddhist Faith. It is divided into several chapters that discuss life principles of what would make the reader a good Buddhist. The various verses of the Dharmapada are divided into various themes that if followed will lead the reader to enlightenment. The verses of the Dharmapada achieve this through the provision of advice to the reader on how he or she can interact more productively with his or her environment. The fourth chapter for instance the fourth chapter draws parallels between real life and the bee’s interaction with a flower to emphasize the importance of one not being destructive to his or her surrounding while making use of resources at his or her disposal (Pereira, 1978). The seventh chapter on the other hand discusses the manner in which the believers need to be at peace with humanity by divorcing oneself from all forms or manner of selfishness.  This chapter also discusses the nobility that one achieves by being committed to his or her duty without imposing himself on the world but rather embracing the state of being a part of it. Good Buddhists are also expected to be keen on avoiding Evil at all costs as this makes life much easier down the line. The principles that are presented in the Dharmapada can be summarized as a series of teachings that define a good Buddhist as one who strives to be at peace with everyone and everything around his life while giving his best in the same regard (Byron, 2010).

While the Dharmapada is primarily a textual document, there are several illustrative images that have been made to accompany the narrative. Images that accompany text, especially religious text are usually included with the aim of strengthening the message contained in the texts.  The artwork that is used alongside the text in this religious text is mostly in tandem with the messages that are contained with the verses about what it means to be a good Buddhist. The mood carried by most of the images communicates a message of tranquility but there appears to be a grave error that is carried in all of them. In nearly all of the images starting with the cover image for the text’s different versions, the human subject or element is placed in the middle. This suggests an element of selfishness and the fact that humanity is the most important element in each of the environments. This is done by centering the image of the human or focusing on the same. The more powerful images however are those that show the human subject interacting positively with nature. The common image for this is that of the individual maintaining a meditation like position and others include the human subject appearing to feed a monkey (Rahula, 2007).

The message of the Dharmapada mainly gives guidelines on how the individual can achieve nobility by avoiding all vices basically through changing his or her attitude towards life. The images used to illustrate these verses’ messages are a good effort as they help in enabling the readers to form a tangible image or form tangible mental references for the insights they are getting. As one reads he or she gets to place him in the various hypothetical yet practical situations contained in the images.

Works Cited

Rahula, Walpola. What the Buddha taught: Revised and expanded edition with texts from Suttas and Dhammapada. Grove/Atlantic, Inc., 2007.  http://www.ahandfulofleaves.org/documents/what%20the%20buddha%20taught_rahula.pdf

Byron, Thomas. The dhammapada: The sayings of the Buddha. Random House, 2010.

Pereira, Cassius A. The Dhammapada. BM S, 1978.

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Psychopathology of HIV and Inflammatory Bowel disease

Psychopathology of HIV and Inflammatory Bowel disease
Psychopathology of HIV and Inflammatory Bowel disease

Psychopathology of HIV and Inflammatory Bowel disease

Order Instructions:

Post on or before Day 3 a brief description of the pathophysiology of your selected immune disorders. Explain how the maladaptive and physiological responses of the two disorders differ. Finally, explain how the factor you selected might impact the pathophysiology of each disorder. Disorders I chose are HIV and Inflammatory Bowel disease

SAMPLE ANSWER

HIV

Pathophysiology

Once the HIV virus gains entry into the cells, it attaches to the CD4 receptors as well as co-receptor through glycoproteins links. The virus encodes reverse transcriptase, allowing a copy of genetic component (DNA) to be constructed from viral RNA.  Once integrated in the cells, the provirus can remain quiescent for a long period of time. The virus uses host cell machinery for replication process. Within few weeks, the virus will have replicated over 10million viral aspects per microlitre of plasma. This causes a decline in the amount of CD4 counts and immune mediators resulting to opportunistic infections (Hickey, Gounder, Moosa, & Drain, 2015).

Maladaptive and psychological response 

The mutation rate of the virus is very high, causing increased resistance to HIV treatment. The virus uses host cell machinery for replication process. The Host initial response to the virus is determined genetically. Coping challenges fluctuates as the disease progress from one stage to another. Additionally, the patient gets depressed and their social roles and functions are adversely affected due to stigmatization and financial implication (Hickey, Gounder, Moosa, & Drain, 2015).

Inflammatory Bowel disease

Pathophysiology

Inflammatory Bowel disease (IBD) is caused by dys-regulated immune response to intestinal micro-flora. The inflammation mainly occurs on the mucosa lining of the intestinal tract which forms ulceration, bleeding, and edema. Several studies  indicates that IBD  is  influenced by genetic factors as well as inflammatory  mediators such as cytokines, T cells, Helper T cells of both type  1  and Type 2 (Severance et al., 2013).

Maladaptive and psychological response

Research indicates that psychosocial factors offer an important role in clinical manifestation and pathophysiology. However, most of the patient could present psychological disorders such as depression, insomnia and anxiety.  Psychosocial factors are thought to mediate alterations of immune systems resulting to immune mediated diseases such as Cancer and opportunistic diseases (Sajadinejad et al., 2012).

References

Hickey, A., Gounder, L., Moosa, M., & Drain, P. (2015). A systematic review of hepatic tuberculosis with considerations in human immunodeficiency virus co-infection. BMC Infect Dis, 15(1). doi:10.1186/s12879-015-0944-6

Sajadinejad, M., Asgari, K., Molavi, H., Kalantari, M., & Adibi, P. (2012). Psychological Issues in Inflammatory Bowel Disease: An Overview. Gastroenterology Research And Practice, 2012, 1-11. doi:10.1155/2012/106502

Severance, E., Gressitt, K., Yang, S., Stallings, C., Origoni, A., & Vaughan, C. et al. (2013). Seroreactive marker for inflammatory bowel disease and associations with antibodies to dietary proteins in bipolar disorder. Bipolar Disorders, 16(3), 230-240. https://www.doi:10.1111/bdi.12159

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Market Efficiency Theory Essay Paper

Market Efficiency Theory
Market Efficiency Theory

Market Efficiency Theory

Order Instructions:

For this paper, the writer will have to read the two post and react to them in one paragraph each. The writer will expand and constructively challenge each of this postings using a minimum of one scholarly article to support his point. each posting respond must have a minimum of 250 words and APA must be use . The writer will respond directly on the uploaded paper with the respond coming directly under each posting as indicated. the references must be in APA format.

SAMPLE ANSWER

It is strongly recommended that the writer tie each response to each posting reacting to the post directly why offering more insight on the topic of the post below.

Market Efficiency Theory

The theory of market efficiency is based on the premise that a market is considered efficient when stock prices are an actual reflection of information known about a company. U.S. markets are generally viewed as semi-strong form market efficient.

  • What would happen if U.S. markets became less efficient?
  • What might lead to markets becoming less efficient?
  • How do markets in other countries compare to the U.S. in terms of efficiency?

 For this paper, the writer will have to read the two post and react to them in one paragraph each. The writer will expand and constructively challenge each of this postings using a minimum of one scholarly article to support his point. each posting respond must have a minimum of 250 words and APA must be use . The writer will respond directly on the uploaded paper with the respond coming directly under each posting as indicated. the references must be in APA format.

 Post 1

In a one paragraph each expand and constructively challenge each of this postings, using a scholarly article to support your point on each paragraph

Market efficiency theory states that investors have accurate information and use it correctly to make informed decisions about their investments (Markowitz, 2005). This evens the playing field for investors because each investor has the same amount of information to make informed decisions about their investment. It is an unrealistic expectation that all investors would have the same type of information. If that were the case, then there would not be investors that outperform the market like Warren Buffet. Even if all investors have accurate information some investors may interpret them differently. Some investors may interpret to mean that the company is in a healthy financial position while others may see the loop holes and not want to invest in that particular company.

If U.S markets became less efficient then there would be greater variability in the market. Less efficient means that different investors have different amounts of information. This would lead to bubbles in pricing and volatility in the market because investors would behave differently from one another because of the differences in their knowledge.

One major reason for a market to become less efficient is the behavioral patterns of investors.  Some investors behave differently to others when they have information about a stock.  Some investors are more risky than others and their buying or selling pattern will have an influence on the overall stock price. Another reason would be insider trading which is illegal but could happen.  Investors may be privileged to information about a company before it is released to the public. If investors have financial information about earnings before the release date they may choose to buy or sell more of that particular stock. It would make the market inefficient because not everyone has this information so therefore everyone would not behave the same way.

The options market in India is considered to be priced efficiently according to Mohanti and Priyan (2014). They observed little or no difference in the price of stock using the Black Scholes formula compared to the actual price of the stock. Their findings suggest that the Indian market was efficient for the period 2008 to 2012.

References

Markowitz, H. M. (2005). Market efficiency: A theoretical distinction and so what?.Financial Analysts Journal, 61(5), 17-30.

Mohanti, D., &Priyan, P. K. (2014). An empirical test of market efficiency of Indian index options market using the Black–Scholes model and dynamic hedging strategy. Paradigm 18(2), 221-237. doi:10.1177/0971890714558709

Write a one paragraph hear to expand and constructively challenge the above postings, using a scholarly article to support your point.

The definition of market efficiency varies but it’s directly related to the information that the investors have and which is reflected on the prices of stock. Fama (1970) suggests that weak market efficiency is based on information on past prices while semi-strong efficiency is based on information on current prices. Strong efficiency is based on current prices and real time information. The US is considered as the most industrialized nation on earth and its largely because of its advanced communication and information systems. The information on all listed companies is available to all investors and the stock markets transactions are also available round the clock through on line networks. Hence the efficiency of the US stock markets cannot be matched globally. The huge investments that most multinational companies have made in the US must be related to the efficiency of the market. Capital markets that have lower transactional costs compared to the financial gains from the market provide more efficiency in the market as it draws more participants hence more investors. If the capital markets increased their transactional costs to be even with the market returns then all the gains in investments would be lost as most investors would find the market unprofitable hence sell out their shares. These actions would result in less participants and reduced amount of investments in the capital market. Inefficiency in the capital markets would mean reduced investments. Other causes of inefficiency like insider trading and behavioral patterns are can be tackled through the right channels (Markowitz, 2005). Insider trading in the US is illegal while behavioral patterns last only a few days or weeks after or before major company announcements. These actions provide self checking mechanism as share prices would rise if the public has high expectations on a company’s performance however the confidence wanes once reality sinks in that nothing new is forthcoming from company changes.

References

Fama, E.F. (1970) Efficient Capital Markets: A Review of Theory and Empirical Work, The journal of Finance, Vol. 25, No. 2, Papers and Proceedings of the Twenty-Eighth Annual Meeting of American Finance Association Blackwell Publishing for the American Finance Association, New York, N.Y. December, pg.28 – 30. Retrieved June 11 2015 from http://efinance.org.cn/cn/fm/Efficient%20Capital%20Markets%20A%20Review%20of%20Theory%20and%20Empirical%20Work.pdf

Markowitz, H. M. (2005). Market efficiency: A theoretical distinction and so what?.Financial Analysts Journal, 61(5), 17-30.

Post 2

What would happen if U.S. markets became less efficient?

Since the time of the Founding Fathers, U.S. leaders have believed in the concept of American exceptionalism, that the U.S. is a unique country with a special mission (Ross, Westerfield, & Jaffe, 2013). It is a notion that continues to this day. A debt crisis in Portugal could send ripples of uncertainty through world financial markets, and if a larger country like Spain fell into crisis, those ripples could prove mighty destabilizing. But U.S. debt runs the risk of crashing the entire operating system of the global economy. Here’s what I mean:

Not only is the U.S. the world’s largest economy by far but it also dominates the global monetary system. In many respects, the entire architecture of global finance is built upon the U.S. economy. Its capital markets are the most liquid. The dollar is the world’s No. 1 reserve currency and the primary one used in foreign exchange transactions and trade. Countries like China and Japan have their national wealth stored to a high degree in U.S. debt. When investors get nervous, they rush to U.S. dollar based assets, and especially U.S. debt. The perception has always been that the U.S. is the ultimate safe haven. Even as its financial condition sickens, that perception remains. Despite a dramatic increase in U.S. deficits and debt in recent years, the country has still been able to borrow at exceptionally low rates. In other words, the U.S. has benefited tremendously from its economic exceptionalism (Ross, Westerfield, & Jaffe, 2013).Now let’s see what would happen if that perception fundamentally changed. U.S. Treasury securities would be seen as riskier and would, therefore, become less attractive. Interest rates would rise in the U.S. as a result, not only making it harder for the government to finance budget deficits and debt, but also raising borrowing costs across the economy, slowing investment and consumption. The U.S. dollar would weaken, undermining the value of currency reserves around the world and speeding us along to the day when the dollar is no longer the world’s premier currency. All that would be destabilizing enough. It would likely mean slower growth in the world’s largest economy, deteriorating living standards for Americans and thus slower growth for the entire global economy (Ross, Westerfield, & Jaffe, 2013).

What might lead to markets becoming less efficient?

An immediate and direct implication of an efficient market is that no group of investors should be able to beat the market consistently using a common investment strategy. An efficient market would also carry very negative implications for many investment strategies and actions that are taken for granted. In an active market, equity research and valuation would be a costly task that provided no benefits. The odds of finding an undervalued stock should be random (50/50). At best, the benefits from information collection and equity research would cover the costs of doing the research. In an efficient market, a strategy of randomly diversifying across stocks or indexing to the market, carrying little or no information cost and minimal execution costs, would be superior to any other strategy that created larger information and execution costs. There would be no value added by portfolio managers and investment strategists. A policy of minimizing trading, i.e., creating a portfolio and not trading unless cash was needed, would be superior to a strategy that required frequent trading (Mohanti&Priyan, 2014).

How do markets in other countries compare to the U.S. in terms of efficiency?

The United States has recovered more quickly than other countries that don’t use the euro including Japan, New Zealand, Denmark and Britain. The performance is all the more remarkable considering that the financial crisis that sent much of the world into recession was set off by American homeowners defaulting on their mortgages, taking down a big chunk of the nation’s banking sector (Ross, Westerfield, & Jaffe, 2013).

The one crucial area in which the United States has performed worse than its peers is in jobs. Joblessness is at record highs in countries like Spain and Greece. But many European countries have done a much better job of protecting employment than the United States. In Austria, Germany and Belgium, the governments paid companies to put workers on short-time work rather than lay them off. Sweden also has a longstanding wage subsidy. Alongside stronger unions and stiffer employment regulations that make it tougher to fire workers, these countries managed to prevent soaring unemployment. Total employment in Britain, Germany, the Netherlands, Austria, France and even Italy has recovered more from the financial crisis than it has in the United States. Though the United States has grown faster than France (Van, 2011).

References

Mohanti, D., &Priyan, P. K. (2014). An empirical test of market efficiency of Indian index options market using the Black–Scholes model and dynamic hedging strategy. Paradigm 18(2), 221-237. doi:10.1177/0971890714558709

Ross, S. A., Westerfield, R. W., & Jaffe, J. (2013). Corporate Finance (10 ed.). New York: McGraw-Hill Irwin.

Van Bergen, J. (2011). Efficient market hypothesis: Is the stock market efficient? Retrieved from Forbes: http://www.forbes.com/sites/investopedia/2011/01/12/efficient-market-hypothesis-is-the-stock-market-efficient/

Write a one paragraph hear to expand and constructively challenge the above postings, using a scholarly article to support your point.

The US economy is driven by its competitive capital markets that literally support the livelihood and financial security of the American people (Ross, Westerfield, & Jaffe, 2013). The few cases that the US capital markets have been presumed to be inefficient have resulted in massive losses globally. The 2008 – 2009 global economic crises are closely related with the events that took place in the US following the collapse of the Lehman brothers and other financial institutions during that period. Inefficiencies in capital markets lead to losses both to investors and the companies (Fama, 1970). The prices of shares are associated with the events that are taking place at the capital markets and the information that the investors are receiving Negative information on the performance of a company is enough to send the share prices tumbling downwards.

The causes of inefficiencies in the capital market in the US may only be caused by interference by the government in the form of increased taxes that may decrease company profits resulting in decreased dividends and later reduced company share prices (Litzenberger & Ramaswamy, 1982). The other forms of inefficiency may occur as a result of insider trading where company officials may leak information to certain people who would take advantage in the market performance for companies that are introducing new products in the making or expanding operations in potential markets (Jegadeesh & Titman, 1993).

Compared to other countries the US has been a market setter. Its relatively more efficient capital markets are the largest globally and very successful. Emerging markets like China and Japan remotely compare to the US. The capital markets in the US are favorably placed because of the high GDP per capita in the US compared to China. More people are able to save and invest in the capital markets in the US compared to China, though the population of China is many times that of the US (Blanchard, 2011). But the US has to do more to protect its employment opportunities at home as most companies relocate to the Asian countries that have cheap labor.

References

Blanchard, O. (2011). Macroeconomics Updated (5th Ed.). Englewood Cliffs: Prentice Hall.

Fama, E.F. (1970) Efficient Capital Markets: A Review of Theory and Empirical Work, The journal of Finance, Vol. 25, No. 2, Papers and Proceedings of the Twenty-Eighth Annual Meeting of American Finance Association Blackwell Publishing for the American Finance Association, New York, N.Y. December, pg.28 – 30. Retrieved June 11 2015 from http://efinance.org.cn/cn/fm/Efficient%20Capital%20Markets%20A%20Review%20of%20Theory%20and%20Empirical%20Work.pdf

Jegadeesh, N, & Titman, S.J.N. (1993). “Returns to Buying winners and selling losers: Implications for stock market efficiency”. Journal of Finance 48 (1): 65–91.

Litzenberger, R.H. & Ramaswamy, K. (1982) The Effects of Dividends on Common Stock Prices or Information Effects? The Journal Of Finance, Vol.37, issue 2, pages 429-443, May 1982.- 10.111/j.1540-6261.1982.tb03565.x Retrieved 30 April 2012.

Ross, S. A., Westerfield, R. W., & Jaffe, J. (2013) Corporate Finance (10 ed.). New York: McGraw-Hill Irwin.

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Capstone Project ; Professional Development 

Capstone Project ; Professional Development 
Capstone Project
Capstone Project

Capstone Project

Order Instructions:

Capstone Project
Professional Development Plan
Write a Professional Development Plan: You will want to refine your three year professional development plan based on insight from your new knowledge and your colleagues. Include the following areas:
1. career goals
2. involvement in professional organizations, and
3. continuing education  (formal & informal).

SAMPLE ANSWER

Capstone Project

A professional development plan assists an employee in defining their career goals, educational goals, and objectives. It enables the employee to determine how far in his/her career he wants be in a certain period of time. Also, it enables him/her to have a direction in his /her career. For an employee to know develop a professional development plan one can decide to ask his/her fellow employee to asses them. After being assessed by a fellow employee then he can develop his own assessment. Then he/she can assess what the department and organization needs. Finally, he should record his progress after developing his professional development plan (Alsop, & Alsop, 2013).

Career goals

It is very important for every employee to set career goals. This is because they enable him/her how far he is with his career and know what to do incase he/she finds out that there is no career progress (Duke. 2015).

  • To increase my knowledge and skills in my profession by reading new journals concerning my field, interacting with other professionals in my field to know what is new so as to enable me grow as a professional.
  • To ask for a salary increase. Or look for a better job which will pay me a salary worth my job description.
  • To try and find a job which I feel satisfied in terms of salary, working environment/condition rewards etc.
  • To work in a stable company so that I don’t feel threatened about losing my job.
  • To work in an environment which promotes team work.
  • So that I can keep up with the competitive job environment I will join professional bodies in my field, go for as many workshops as possible so as to keep myself updated with everything that is happening in my field.
  • Also I will do most of my professional courses and join university for my post graduate degree program.

Professional development plan is very important because it enables one to be able to have a career direction.

References

Alsop, A., & Alsop, A. (2013). Continuing professional development in health and social care: Strategies for lifelong learning. Chichester, West Sussex: Wiley-Blackwell.

Duke. (2015). Professional Development Plan. Retrieved May 12/2015, from: http://www.hr.duke.edu/managers/performance/development/

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Cash flow forecasts and projected financial statements

Cash flow forecasts and projected financial statements
Cash flow forecasts and projected financial statements

Cash flow forecasts and projected financial statements

Order Instructions:

Please read the attached file for the full details

Week 3 Individual Case Study Assignment 1

Cash flow forecasts and projected financial statements

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For the following Individual Case Study, you assume the role of someone who has been asked to provide a Business Report for a group of friends who have invested in an organisation, Fashion Clothing. They had heard you are taking an Accounting and Finance Module and have asked for your advice.

The scenario

A group of friends have formed a new business called Fashion Clothing, an online and mail-order clothing business, in which they have invested £200,000 of their own capital. They intend to manufacture and sell quality clothes. They have set up the business and are selling direct to the final consumer, using a combination of aggressive marketing across a range of different media and also with the use of an automated Web site that accepts online orders. To support this, they also have a department of telephone sales and support staff ready to help customers. The sales staff work in teams and receive a basic salary plus commission for each successful sale. By the start of July 20X5, they have spent £150,000 on tangible non-current assets, and they currently have the remaining £50,000 in their business bank account.

They provide you with the following forecasted figures for their first 6 months of trading:

£
Sales for the next 6 months 1,350,000
Cost of the materials used up in sales 390,000
Labour costs for the 6 months 480,000
Other expenses for the 6 months, including marketing costs and £15,000 depreciation of tangible non-current assets 345,000
Materials purchased during the 6 months 520,000

Their projected cash receipts and payments are estimated to be as follows:

Month (20X5) Sales Receipts Payments for Materials Labour and Other Expenses
£ £ £
July 150,000 120,000 These payments are divided equally over each of the 6 months.
August 120,000 100,000
September 150,000 60,000
October 210,000 60,000
November 260,000 60,000
December 285,000 60,000
Totals 1,175,000 460,000

In addition to the above, they expect to have to pay a tax bill of £20,000 in December 20X5 and also plan to buy (and pay for) £30,000 additional tangible non-current assets in that same month. All transactions will go through their business bank account.

Required

You are asked to provide a Business Report (1,000 words for the main body of the report) for the friends who have invested in Fashion Clothing, commenting on the business’ prospects and including the following five financial statements:

Since none of the investors have a background in accounting and finance, you should also explain what each of these statements means as a part of your report.

  1. An opening statement of financial position at the start of July 20X5.
  2. A monthly cash flow forecast, showing the bank balance at the end of each of the 6 months and indicating what level of overdraft facilities the friends need to negotiate with their bank manager. Explain what additional expense they should take into account as a result of needing this financial assistance (overdraft).
  3. A projected income statement for the first 6 months of trading.
  4. A projected statement of financial position for Fashion Clothing at the end of its first 6 months of operations.
  5. A projected statement of cash flows for the first 6 months of trading and using the indirect method.

Keep the following in mind:

  1. Using a spreadsheet may help you to produce your cash flow forecast. Remember here that £150,000 of the initial £200,000 has already been spent. Hence, your opening bank balance should be £50,000. Your closing bank balance should be included in your statement of financial position as at 31.12.20X5.
  2. Think carefully about the £15,000 depreciation charge when working out your monthly cash outflows for labour and other expenses.
  3. Also think carefully about the figures for closing stocks (inventories), creditors (payables) and debtors (receivables).
  4. Please remember that your qualitative analysis and explanation of your five statements are just as important as the calculations themselves. These, together with your presentation of a professional report, will contribute towards your grade for this assignment.
  5. Please be sure to re-visit the Key Concept Overviews for Weeks 1 and 2, as well as Week 3. These should serve as a reminder of the accruals concept, plus the difference between a cash flow forecast and a statement of cash flows. They also include detailed numerical examples that should assist with your calculations for your financial statements.

Ideally a business report should be produced with a suitable structure and quality of discussion around the following key areas:

Executive summary

Table of contents

List of figures

  1. Introduction
  2. Main financial findings.

2.1 Summary of the first 6 months business operations

2.2 Financial accounting statements

  1. Analysis

3.1 Initial analysis in context of the three financial statements.

3.2 Investigations to increase efficiency

  1. Conclusion
  2. References

ANNEX I: Statement of financial position Fashion Clothing – 01.07.20X5 and 31.12.20X5

ANNEX II: Income statement Fashion Clothing – 6 months to 31.12.20X5

ANNEX III: Statement of cash flows Fashion Clothing – 6 months to 31.12.20X5

ANNEX IV: Projected cash flow forecast for the first 6 months of trading

To complete the assignment:

  • By Day 7, submit your Individual Assignment to the Turnitin link provided.
  • Be sure to read over your Individual Assignment before submitting it to your Instructor. Make sure the spelling and grammar are correct and the language, citing and referencing you use when providing your opinion are appropriate for academic writing.

SAMPLE ANSWER

Executive Summary

Fashion clothing targets to sell trendy fashion clothing to clients who prefer to buy expensive garments at a price slightly above the average market price. With an initial capital of $200,000, the company has its goal on an average daily turnover of the same amount. The business in fashion clothing industry requires heavy investment in stock as most customers have different sizes and preferences and they require a large variety made up of different sizes and designs.

The objective of Fashion clothing is sell unique products that are appealing to clients and which have been designed with utmost accuracy and according to the clients exact details. The apparels are meant to be custom made per the client’s requests.

The mission of the company is to allow many potential clients to place orders that that they are assured of good quality and timely delivery.

Fashion clothing is a company that intends to take advantage of the delays in deliveries of orders that is common in the apparel industry. The company plans to sell most of its custom made designer clothes through the internet hence its strategy is to stock a few items for display only while the materials for the major orders that have been placed by customers can be obtained directly from the supplier’s shops and delivered to the business premises directly before they are manufactured according to the sizes and designs requested by the clients.

The main component of the internet based sales is timely delivery of the finished product to the client. The company must has already strategized to have an efficient delivery system to maintain its potential clients.

Contents                                                                                                                      Pages

  1. Introduction………………………………………………………………………………4
  2. Main financial findings………………………………………………………………..4

2.1 Summary of the first 6 months business operations…………………………..5

2.2 Financial accounting statements………………………………………………6

  1. Analysis

3.1 Initial analysis in context of the three financial statements…………………..6

3.2 Investigations to increase efficiency………………………………………….7

  1. Conclusion………………………………………………………………………………7
  2. References………………………………………………………………………………8
  3. Appendices………………………………………………………………………………9

List of Figures

ANNEX I: Statement of financial position Fashion clothing – 01.07.20X5 and 31.12.20X5…9

ANNEX II: Income statement Fashion Clothing – 6 months to 31.12.20X5

ANNEX III: Statement of cash flows Fashion Clothing – 6 months to 31.12.20 X5

ANNEX IV: Projected cash flow forecast for the first six months of trading
1. Introduction

Fashion Clothing is a new company in the market. Its initial investment amounts to $200,000 and

75% has already been invested in the business while the balance is in the bank.

The company has forecasted its initial sales for the first six months of trading and it hopes to breakeven in the third and final quarter of 20X5.

The major products that the company intends to manufacture are fashionable and trendy dresses for women and gentlemen suits for men. Shirts and ties for men will be introduced after the first phase of the projection.

Ladies designs seem to be more prevalent in the market than men’s original suits and ties. Fashion Clothing intends to provide a wide array of Ladies clothing for display together with matching huts, belts and shoes which will be obtained from the market to enhance the sale of matching items.

For children, fashion clothing intends to have a retail section that has been franchised from other larger apparel manufacturers to boost its sales for the first two years of trading. This strategy would make it possible for the company to decide if it’s profitable enough to introduce their own manufacturing line for children clothing.

  1. Main financial findings

The projected cash flow statement indicates that the company will incur losses throughout its trading periods in the next six months

 

2.1 Summary of the first 6 months business operations

Jul Aug Sep Oct Nov Dec
Sales  £  150,000.0  £  120,000.0  £  150,000.0  £  210,000.0  £  260,000.0  £  285,000.0
Total expenses  £  276,667.0  £  276,667.0  £  276,667.0  £  276,667.0  £  279,666.0  £  341,666.0
Loss -£ 126,667.0 -£ 156,667.0 -£ 126,667.0 -£   66,667.0 -£   19,666.0 -£   56,666.0
Balance C/fwd -£   76,667.0 -£ 233,334.0 -£ 360,001.0 -£ 426,668.0 -£ 446,334.0 -£ 503,000.0

 

For the first six months the company will register losses as the sales are not enough to honor all the financial obligations and commitments that the company has entered into, in July for instance the total sales would amount to £150,000 while the total expenses would amount to £276,667 pounds. In august, the sales would amount to £120,000 while the total expenses would be the same as in the month of July hence a loss of £126,667 and £156,667 would be incurred for July and August respectively. The cash at bank that was brought forward would subsidize the loss in July to £76,667 but the remaining loss would be carried over to August which will result in a total loss of £233,334. The trend is the same till December where the grand loss would amount to £503,000. The total sales for the whole period would amount to£1,175,000 while the total expenses for the same period would be £1,728,000. The difference is a loss of 553,000 while the balance at the bank reduces the loss to £503,000 (Hermanson, Edwards & Invacevich, 2011, p.70).

2.2 Financial accounting statements

The income statement registered a loss of £523,000. The assets are like cash at bank and the assets acquired during the financial year are not entered in this account. However, the depreciation charged on the asset is entered in this account. A provision for depreciation is normally created to ensure that the asset is replaced when it wears out but in this case it has not been provided for. The tax incurred for the period has also been paid (Garrison, Noreen & Brewer, 2009, pg. 68)

The balance sheet indicates that the total equity is £323,000 while the current liabilities have amounted to £664,000 while the current liabilities are £503,000. The debtors could also be responsible for the problems that Fashion Clothing may be facing but s not mention in any part of the projections. The cash flow also indicates that the net cash flow from investing and financing activities amounted to £592,000.

  1. Analysis

3.1 Initial analysis in context of the three financial statements

The three statements indicate that the projected financial results would mean that the company is incapable of meeting its financial obligations and it’s insolvent. The sales revenues are not enough to meet the primary obligations or expenses and it has to rely on bank overdraft or another source of income to finance its activities. The total amount paid as expenses exceeds the amounts earned as sales. The extra amount spent must have been received most likely from the bank or from creditors. But it’s not clear as the projected figures don’t include any creditors or may be debtors who are yet to pay for the gods received. The liquidity ratios for the company are also very discouraging. The current ratio for 20X5 for Fashion Clothing is 1.3. The current assets can only repay the total assets 1.3 times only instead of the ideal standards of for current ratios is supposed to be 2. That’s for every current liability the current assets should be able to cover it twice. The quick ratio or the acid test ratio fashion clothing is not even applicable as the current assets are made up of stocks only. To calculate the quick ratio the inventory is subtracted from the current assets and divided by the current liabilities. Hence Fashion Clothing liquidity status is zero. It’s bankrupt unless its directors look for a way to bail it out. The company needs long term financing in order for its liquidity to improve (Williams, Haka, Bettner & Carcello, 2008, p.40).

3.2 Investigations to increase efficiency

The sales department must be able to strategize on the best strategy to improve its sales. The company must increase its efficiency in production and maybe reduce its prices to boost sales. The liquidity ratios are not favorable and it should focus on obtaining long term debts to finance its operations.

  1. Conclusion

To conclude, the directors of the company must work out a way to increase sales and marketing activities to boost its revenues. In the meantime, the directors should also look for ways of financing the company’s operations before it stabilizes. The company has a good strategy of using the internet to get clients on the market and it can be successful as the market is large and it’s yet to be exploited fully.

References

Garrison, H., Noreen, E., Brewer, C., (2009) Managerial Accounting, McGraw-Hill Irwin, pg 68 -75.

Hermanson, R.H., Edwards, J.D., & Invacevich, S.D. (2011) Accounting Principles: A Business Perspective. First Global Text Edition, Volume 2 Managerial Accounting, 37-73.

Williams, J. R., Haka, S.F., Bettner, M.S. & Carcello, J.V. (2008). Financial & Managerial Accounting, McGraw-Hill Irwin, p. 40.

Appendices

ANNEXTURES

ANNEX I: Statement of financial position Fashion clothing – 01.07.20X5 and 31.12.20X5

01.07.20X5

Fashion Clothing

Statement of Financial Position as at 01.07.20X5

DR CR
Bank 50,000
Assets 150,000
capital 200000

 

Fashion Clothing

Statement of Financial Position as at 31.12.20X5

Cost Dep NBV
Non-current assets 180,000 18,000 162,000
Current assets
Inventory 664000
664000
Total Assets 826,000
Current liabilities
Bank o/d 503000
503,000
Net Assets 323,000
Share holders equity 200,000
Retained loss 523,000
Total equity 323,000

ANNEX II: Income statement Fashion Clothing – 6 months to 31.12.20X5

Fashion Clothing

Income Statement for the year ending 31.12.20X5

Sales 1,175,000
Cost of sales mate 390,000
GP 785,000
Less Exp
Labor 480,000
Other expenses 330,000
Depreciation 18,000
Material purchases 460,000
Total Exp 1,288,000
EBIT -503,000
Tax payment 20,000
Total loss -523,000

ANNEX III: Statement of cash flows Fashion Clothing – 6 months to 31.12.20 X5

Fashion Clothing

Income Statement for the year ending 31.12.20X5

Cash generated from operations -523,000
Add depreciation 18,000
Increase in stock 664000
Cash generated from operations 159,000
Less tax paid 20,000
139,000
Add bank overdraft 503000
Net cash from operations 642,000
Net Financing and investments 592,000
Net cash flow 50,000

ANNEX IV: Projected cash flow forecast for the first six months of trading

Fashion Clothing

Projected cash flow forecast for the first six months of trading

Jul Aug Sep Oct Nov Dec
Balance B/fwd  £    50,000.0 -£   76,667.0 -£ 233,334.0 -£ 360,001.0 -£ 426,668.0 -£ 446,334.0
Sales  £  150,000.0  £  120,000.0  £  150,000.0  £  210,000.0  £  260,000.0  £  285,000.0
Cost of sales mate  £    65,000.0  £    65,000.0  £    65,000.0  £    65,000.0  £    65,000.0  £    65,000.0
Labor  £    80,000.0  £    80,000.0  £    80,000.0  £    80,000.0  £    80,000.0  £    80,000.0
Other expenses  £    55,000.0  £    55,000.0  £    55,000.0  £    55,000.0  £    55,000.0  £    55,000.0
Depreciation  £                 –  £                 –  £                 –  £      3,000.0  £    15,000.0
Material purchases  £    76,667.0  £    76,667.0  £    76,667.0  £    76,667.0  £    76,666.0  £    76,666.0
Non Current asset  £                 –  £                 –  £                 –  £                 –  £                 –  £    30,000.0
Tax payment  £                 –  £                 –  £                 –  £                 –  £                 –  £    20,000.0
Total expenses  £  276,667.0  £  276,667.0  £  276,667.0  £  276,667.0  £  279,666.0  £  341,666.0
Profit -£ 126,667.0 -£ 156,667.0 -£ 126,667.0 -£   66,667.0 -£   19,666.0 -£   56,666.0
Balance C/fwd -£   76,667.0 -£ 233,334.0 -£ 360,001.0 -£ 426,668.0 -£ 446,334.0 -£ 503,000.0

References

Flynn, D., 2003, Understanding finance and accounting (rev. 2nd Ed). Durban: Butterworths.

Gitman, L.J., 2000, Principles of managerial finance (9th ed.). Menlo Park, Calif.: Addison Wesley.

Harrison, W.T. & Hongren, C.T., 2001, Financial accounting (4th Ed). Englewood Cliffs, NJ: Prentice Hall.

Vance, D., 2003, Financial analysis and decision making: tools and techniques to solve

financial problems and make effective business decisions. New York: McGraw-Hill.

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Human capital Research Paper Assignment

Human capital
                            Human capital

Human capital

Order Instructions:

Dear Admin,

Note: To prepare for this essay please read the required articles that is attached then answer the following questions:
A perplexing issue, particularly for many human resource management and marketing professionals, is the absence of a valuation in the traditional financial statements relating to human capital and other internally generated intangible assets, such as brands. Often these value drivers of an organisation form a critical key success factor. Goodwill does appear in many financial statements and this includes intangible assets acquired by another organisation, which are often subject to large impairments losses. However, this raises questions about the sustainability and volatility relating to goodwill valuations. It is against this background that accountants have decided to be cautious in respect of recognising intangible assets in the financial statements.

To prepare for this essay:

•Consider the controversy of whether human capital should be included in the financial statements.

•Consider how human capital could be defined and quantified in financial statements.

•How do you define human capital?

•What is the importance of human capital?

•What are the reasons to measure or not measure human capital?

In an approximately 900-word response, address the following issues/questions:

With the rise of the ‘knowledge economy’, the traditional valuation of an enterprise as consisting solely of measurable assets, such as buildings, equipment and inventory, is increasingly being questioned. Human capital, although widely recognised as an important component of an enterprise’s total value, does not appear on a statement of financial position (balance sheet).

•Discuss whether or not you believe human capital should be included in the financial statements. Identify how you are defining human capital. What are some of the difficulties that may be encountered in attempting to quantify and record this (these) asset(s)? If recorded, would such values remain constant or be subject to change?

Also,

1) The answer must raise appropriate critical questions.

2) Do include all your references, as per the Harvard Referencing System,

3) Please don’t use Wikipedia web site.

4) I need examples from peer reviewed articles or researches.

5) Turnitin.com copy percentage must be 10% or less.

Note: To prepare for this essay please read the required articles that is attached

Appreciate each single moment you spend in writing my paper

Best regards

SAMPLE ANSWER

Introduction

The value of a person is difficult to quantify. Different people have different skills and abilities. To measure the actual value that people contributes in an organization is very challenging. It’s almost impossible to compare and measure the services of a lawyer and an accountant in terms of monetary value. Both are valuable in their professions and it’s only the fees that they charge for their services that can act as a rough measure of their value.

Several factors have to be considered before valuing people just like brands have to be differentiated and positioned differently through segmentation; people too have to be segmented on the basis of what they posses and what value exactly are they adding to the company. Valuation of individuals is based on estimates and it results from two different interacting variables. These are the conditional value of a person or employees and the probability that they will still remain for a particular period of time in that company. The conditional value of a person is literally the current worth of the employee’s potential services or even the production that a person can render to a company if the person works for a specific number of years. The conditional value can also be described as a person’s worth in the combination of productivity or performance, flexibility of skills or transferability and the person’s promotability. The last two depend on the first element. These factors are then multiplied by the person’s probability of still working for the business for particular years. The calculated amounts provide the total realizable value that an employee and his skills are worth (Mayo, 2008).

The same way the overall effectiveness of a person’s abilities are developed and the programs that are applicable in the process. Some advanced programs or computer soft ware’s generate specific units that change in respect to transferability and productivity of a person plus it collectively adds value to an employee’s total worth.

However, this approach has problems with future services which is still not clear on how it should be calculated. The concept also leads to lower value estimation for old and experienced persons and who have limited time to offer for services in future mostly because of old age or poor health. The approach fails to consider the rich experience gathered over the years.

Lev & Schwartz (1971) devised a system similar to accounting for human resource management and which some companies like Infosys, an Indian IT firm have already adopted in their systems. The Indian company’s annual report has a section that deals in Human Resource Accounting. The evaluations used to quantify and evaluate the present value of the employees future value is based on the company’s 2006 discounted rates which were estimated to be 12.96% and which were also the company’s cost of capital. The value that has been calculated as the cost of human capital is then applied in all other calculations including ratios and other year-to-year comparisons.

The value that this approach adds to corporate governance is still questionable. The need for this information in accounting or investing circles is yet to felt as it’s just on paper with little or no application at all.

The purpose and objective of human capital management can be classified into four major roles; a) pure labor, b) maintenance and administrative, c) value delivery to stakeholders and those that creates new value for future use.

The basis of classification may be on personal skills and employee behaviors, b) business or professional knowledge and also experience c) the kind of relationship held d) achievements e) alignment f) mobility and the potential to contribute and also grow and be more resourceful.

Fitz-Enz (2000) organized human capital into three levels;

a). The concept of human capital outlines the total contribution of the wholesale process and largely concentrates on manpower and productivity ratios.

b), The second measure deals with the process that leads to the service and quality of productivity.

c). The final part deals with the management of human capital and it concentrates on the traditional roles of the human resource department like acquiring and training staff. It also deals with evaluation and development of staff for effective job placement.

The choice of the people related measures and its application to the employees plan which depend heavily on the company’s strategies and the major goals of each department, its employees and the task that the company expects  the department to participate and achieve. However, each workforce would include in its framework careful analysis to evaluate and measure the value of human capital, overall employee engagement, productivity and the added value.

For the balance sheet purposes, human capital would belong either on the assets side or the liabilities depending on the targets derived from the benchmarks or as set by the management.

Finally, to conclude, according to the research done on HRM practices and business performance that was done by the institute of Employment Studies (Tamkin, Cowling and Hunt, 2008) and later supported by the Work Foundation entitled People and the Bottom Line several questions popped up (Mayo, 2001).

Several questions can be posed in respect to human capital cost calculations. For example the relationship between poor performance and employees’ treatment; Are they related, should the management invest on systems that motivate workers or on the feedback systems that calculate individual performance and analysis human capital (Mayo, 2008)

Mayo (2008) contends that the human capital accounting has minimal effect on human performance but if it’s implemented positively it can create significant changes in cost calculations. Few companies have integrated human capital measurement mostly as a result of the challenges and difficulties of standardization. But it would be useful to understand the value of such intangible assets as human capital. There is a lot of knowledge on its benefit and how it can be applied in companies.

References

Fitz-Enz, 2000, The ROI of Human Capital, Amacom New York.

Lev, B. & Schwartz, A., 1971, The Use of the Economic Concept of Human Capital in Financial Statements’, The Accounting Review, January 1971

Mayo, A., 2008, Financial Statements and Human capital, Finance and Management, Management Extra, June 2008 retrieved June 11 2015 from http://www.mayolearning.com/assets/Uploads/Publications/ICAEW-May-08-Measuring-Human-Capital.pdf

Mayo, A. J., 2008, The Human Value of the Enterprise – Valuing People as Assets, Measuring,

Managing, Monitoring

Mayo A J, 2001, People and the Bottom Line’, Nicholas Brealey Publishing.

Tamkin, P., Cowling, M. and Hunt, W., 2008, Institute of Employment Studies Report No. 448, 2008

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