Choose one ethnic/cultural group. How do their traditions/culture influence self-care to improve well-being. Choose one of the aspects of self (physical, mental, emotional/culture, spiritual). Cite sources from the readings or online library.
Prompt 2
In this week’s readings, a self-assessment tool is displayed. In this tool, the authors not only explore the aspects of physical, emotional, mental, and spiritual self but they also include the parameters of relationship and choices. Choose one aspect of self and discuss how it is influenced by the parameters of relationship and choices.
please use 1 citation for each prompt
SAMPLE ANSWER
Prompt 1
Ethnic groups are a communally defined groups of people who identify themselves with each other through the same lineage, social, cultural or national understanding. These groups of people are usually affected by their lifestyle adopted from their ethnic or cultural back grounds in the way they carry themselves. This might render them not to have a good and healthy life. An example of an ethnic group in America are the Native Americans.
They are associated with chronic alcoholism and substance abuse among the adolescents. This leads to poor self-care among them resulting to mental illness. The same still has led to high numbers of individuals committing suicide (Schore et al, 2009, pg. 38)
Prompt 2
The aspect of self is an individual’s reflective consciousness. How people perceive themselves and how they are viewed by others. These aspects are affected by certain things including relationships and choice. There exists a number of categories relationships have. Among this is the marriage relationship. This relationship most of the time is faced with difficulties. These are as a result of couples not having enough understanding of each other. One of the couples might be a drunkard or rather not having the spiritual self, this leads to misunderstanding between the two. Usually the end results of such a relationship is divorce. (Iran, 2013, pg. 87)
Limits of choice also have a great influence on the spiritual self, choices made by an individual in the past might come to affect the person in the future in a number of ways for example frequent use of cigarette might lead to the infection of liver cirrhosis. When this person changes still the decision they made on substance abuse will continue haunting them.
References
Schore R., Levenson R.2009. Native Americans. Native center of Excellence.
Explain how you will respond when the President of Norges Bank Investment Management, which manages the assets of the world’s largest sovereign wealth fund, “The Government Pension Fund Global of Norway,” calls upon you in your Michigan office to tell you that the Fund is no longer happy with your company’s record of caring for the environment. Specifically, the President tells you that her fund wants Ford to announce the cessation of manufacturing of all gasoline and diesel powered cars and trucks within two years. The Fund owns 4.99% of Ford common stock and the President indicates that she has had informal contacts with Carl Icahn, Bill Ackman, Paul Singer and “others who are interested in Ford’s future and in enhancing shareholder returns from their investments in Ford.”
SAMPLE ANSWER
Investment Management Essay Question
To address this problem, it is important to check on the cause of the problem and the alternatives for solving it. It is clear that the environmental pollution is emanating from the use of diesel and gasoline fuels, and that the Government Pension Fund Global is not happy with the continued use of these pollutants. Communication is an important aspect in management. I will inform the President of the Fund that I support her call for cessation of manufacturing of all cars and trucks that are powered by gasoline.
Corporate social responsibility requires a company to meet its obligations and to make decisions that are committed to the improvement of community welfare through corporate contributions and discretionary business practices. This includes environmental management, pollution management, waste management, biodiversity conservation, and pollution prevention and control. Since environmental pollution is seriously spoiling the company’s image in line with our corporate social responsibility, we need to adopt an environmental friendly approach to avoid the risk of losing the Fund and ultimate collapse. Accordingly, Ford is adopting a ‘Smart Movers’ approach whereby we will exploit all available opportunities established by the green consumers (Welford, nd). The company has realized that it is not prudent for a business to merely restrain itself to its financial impact. We realize the great impact that our company has been having on the environment as well as the community in which we operate. Indeed, the emissions from exhaust pipes, including carbon monoxide and carbon dioxide lead to air pollution and creation of smog. These gases also lead to climate change due to global warming. Thus, we consider it our responsibility to deal with all risks, stakeholder and market pressures, and conditions emerging in the course of our business. Our vision is to manufacture cars and trucks that do not emit fumes, which are harmful to the public and the environment.
Ford is going to adopt various ways to ensure that alternative fuels such as bio-diesel, electricity, LPG, and natural gas (Srisurapanon & Wanichapun, 2010) are adopted in two years’ time. Ford is ready to partner with such stakeholders as Carl Icahn, Bill Ackman and Paul Singer to ensure that there is a proper balance between the interests of the company and its corporate social responsibility. We gladly invite Paul Singer, Bill Ackman and Carl Icahn to come in to contribute to our shift to more efficient and reliable sources of energy for our cars and trucks. We also greatly need the Fund to contribute to our new move, owing to the fact that the adoption of alternatives to fossil fuels tends to have heavy financial requirements in the short-term period.
Despite the overwhelming expenses involved in the initial stages of adopting alternative sources to fossil fuels, we realize that it is very beneficial for us to go beyond regulatory standards due to the fact that this move will save on money and time, in addition to reducing hassles. It is evident that environmental friendly energy sources have the ability of paying dividends with regard to effectiveness and efficiency. As a result, Ford will have an opportunity to outshine its competitors and even attract more investors. We need the Fund’s good will to help us in achieving these goals. Thus, I would communicate all this to the President and ask her to be patient with us a little longer to get financial backups in order to shift to environmental friendly sources of energy.
What are the single most significant issues facing the Australian system of government at local, state and national levels in the short and longer terms? Pick one short term and one long term issue at one level of government and outline the reasons you have chosen those issues.
Short-term issue: tackling use/addiction of methamphetamine (ice).
Long-term issue: privatization of state assets.
Current state of play:
Ice addiction and use in NSW is currently exploding. It is readily available and infiltrating communities state and nation wide. NSW Opposition Leader Luke Foley recently described Ice use in the state as being an “epidemic” (SMH, Feb 26, 2015).
The recently re-elected Liberal state government of NSW is currently in the process of the privatization of the state’s electricity poles and wires. There has been much debate over the merits of such an act which will provide a short-term financial boost for the government and will raise taxes for the state’s residents.
Background:
1. Ice addiction and use in NSW has risen rapidly over the last decade. A 2006 report indicated there was about 37,000 regular Ice users in NSW with about 28,000 addicts (Drabsch). The rate of Ice use more than doubled between the years of 2010 and 2013, rising from 22% of speed users to a whopping 50% (National Drug Survery, 2013). The Salvation Army has also reported a 122% increase of Ice users presenting to their drug recovery programs since 2010. NSW Police Commissioner Andrew Scipione recently wrote in the Daily Telehraph that: “if we don’t adequately address this problem, it is not an overstatement to say that it could bring us to our knees as a nation.” (Hildebrand, March 31, 2015) Ice is an incredible addictive drug, which can draw extremely violent behaviour from its users.
2. Mike Baird’s NSW Liberal party has promised to sell off the state’s electricity poles and wires having recently won the state election. The government will lease 100% of Transgrid, which runs the electricity network, for the next 99 years, while 50.4% of Ausgrid and Endeavour Energy will be offered for lease (SMH, March 30, 2015). The government hopes to raise about $13 billion from the sales while generating a $300 billion boost to the economy and adding over 100,000 jobs over the next 20 years (SMH, March 30, 2015). Money made from the sales will be invested into state infrastructure in the form of roads, re-developments etc.. However, there have been arguments against the merits of the move as the lease of pubic assets removes an income-generating asset for current and future governments (ABC News, March 17, 2015). In essence, the lease of public assets will create a short/medium-term economic boost, but it also removes what would have been guaranteed income for future governments.
Main points of contention:
It is important to discuss the way Ice has grown in NSW and how best to curtail the increasing rates and effects of its use. Looking at who will be responsible for the implementation of strategies to battle Ice use (government, police etc.) is also of importance.
In regards to privatization, the main discussion point is whether the government is making the right call by selling off the rights to a public asset. Do the short-term benefits balance out the possible long-term shortcomings?
Where I have gained my information:
I have obtained information by reading through studies on methamphetamine rates in Australia as well as a number of news articles. The NSW government website also provides fact sheets and advice for Ice users on their website.
Most of the information I have gathered on privatization plans have come from various news articles and the NSW government website.
QUESTIONS:
From your knowledge, is Luke Foley right in his claim that Ice use in NSW at “epidemic” levels?
A major collaboration between the NSW government and NSW police force is required to tackle methamphetamine use in the state. However, is one side more responsible than the other (law making vs law implementation)?
What would be an effective strategy to implement in the fight against increasing rates of Ice use?
Do the short/medium term benefits of privatisation (boost in economy, creation of jobs, more taxes) outweigh the negative aspects of losing public assets?
Do you think previous acts of privatisation (Qantas, Telstra, power stations, etc.) been successes for both governments and the organisations themselves?
How will privatization effect the people of NSW?
SAMPLE ANSWER
Public Relations in Australia
Introduction
On the platform of public relations in the Australia, government of this country is faced with short and long-term disturbing issues, which comprise of ice (methamphetamine) addiction and privatization of public assets respectively. Therefore, the following discussion will engage in discussing some of the controversial issues revolving about ice use and public-asset privatization in Australia.
Discussion
Ice addiction is an epidemic that needs to be wiped out as it has physical, psychological, and emotional effects that are detrimental to health population of Australia (Babor, 2010). The collaboration between the NSW police and NSW government can help eradicate addiction. However, NSW police is more responsible than the federal government on ice addiction, as they are within the grassroots where use of this drug is executed. However, due to corruption, the police let the criminals to go on with selling of these drugs (In Baker, In Robards & In Buttigieg, 2015). The effective strategy to fight against those increasing rates is by the NSW government being responsible for the use of ice by drafting policies that it oversees their implementation to the latter.
Privatization of public assets such as electric wires and poles poses a risk to NSW government in future. Although privatization will have an immediate boost of economy, creation of jobs and more tax pool, this does not outweigh the pain of losing the assets (Chinyere & Xu, 2012). Instead, Gaffey (2010), due to reduced dividends, the government will be forced in future to tax its citizens more heavily as they will have no stable investment sources. The previous acts of privatization of Qantas and power stations have not been beneficial for both the government and organizations (Warner, 2010). This is because privatization has led to the privatized companies trying to make use of the existing plants rather than invest in new ones. The people in NSW will lose trust to the government, as they will view that the government is mainly concerned about their current concerns, but not future demands of which are more critical than current ones.
Conclusion
In summary, the government can address the issues of ice addiction and privatization of public assets. The government, taking into consideration the effects of its action can either increase the use of ice or its decrease. On the other hand, the NSW should avoid privatization of its assets due to future adverse effects such as lack of investment structures.
Chinyere, I. and Xu, X. (2012). Public-Private Partnerships: The Underlining Principles of Infrastructure Investment, Finance and Development Projects. International Journal of Business and Management, (7): 109-125.
Gaffey, D. W. (2010). Outsourcing infrastructure: expanding the use of public-private partnerships in the United States, Public Contract Law Journal, 39(2): 351-372.
In Baker, S., In Robards, B., & In Buttigieg, B. (2015). Youth cultures and subcultures: Australian perspectives.
Warner, M. ((Dec 2010). The Future of Local Government: Twenty-First-Century Challenges. Public Administration Review, suppl. Special Issue on the Future of Public Administration in, 2020 70: S145-S147.
We can write this or a similar paper for you! Simply fill the order form!
This is a forecasting assignment for Business Analysis and Modelling MBA module. The core text used Quantitative Analysis for Modelling by Render and Stair.
This forms part of a group assignment.
Further details will be sent across attached later.
SAMPLE ANSWER
Forecasting Assignment
Forecasting is widely regarded as a method of predicting events that may happen in the future. The accepted definition of forecasting is the process of generating predictions concerning the future by analyzing trends emanating from past and present data (Hirschmann, 2008). Data from forecasts is considered to be estimation since the future is unpredictable, but it is a reliable source of information for planning purposes owing to the future projections of the firm. Due to the unpredictability, forecasting methods provide an allowance for risk and uncertainty, and such a degree of uncertainty is usually indicated succeeding the forecast (Hirschmann, 2008). On a wider scope, however, forecasts are imperative by enhancing the quality of decisions due to risk reduction. Forecasting relies on the statistical discipline by applying models such as time series analysis and relies on data generated from vertical and horizontal analysis (Hirschmann, 2008).
Vertical analysis is the assessment of data amongst different organizations in the same industry, and in most cases organizations of similar sizes (Hirschmann, 2008). This is also called longitudinal analysis. Horizontal analysis is the examination of data for an organization over a period, for instance the past ten years. It can also be referred to as cross-sectional analysis (Hirschmann, 2008). Forecasting methods can be categorized into quantitative and qualitative methods. The quantitative methods predict future data by the assumption that the data is function of past data. The model utilizes past numerical data to develop trends that can be extrapolated to predict future data (Hirschmann, 2008). Exponential smoothing, linear predictions and moving averages are some of the quantitative methods of forecasting. Unlike quantitative forecasting which relies on speculative data, qualitative forecasting is quite subjective (Hirschmann, 2008). The latter predicts the future by relying on judgements and opinions, for example of experts. This method is mostly used in instances where past data is not available. Examples of such models are the historical life cycle analogy and market research (Hirschmann, 2008).
Due to the advent of technology, there are several software that have been developed that are able to predict future outcomes. Amongst such include excel QM and QM for windows that are used in forecasying. Excel QM is one of the applications developed by Microsoft corporation and it is mainly used in mathematical and statistical computations. QM for windows is also an application by microsoft, with a centre focus on statistics (Hirschmann, 2008). Such applications are vital in easening the forecasting work, and provide a great deal of accuracy compared to the traditional methods such as regression analysis and use of coefficients such as the Pearson’s coefficient (Hirschmann, 2008). Such software are capable of determining variants such as coeeficients of correlation and coefficients of determination.
In this milieu, focus will be on the quantitative methods to predict future data, specifically the method of moving averages. The moving average method, also referred to as the running average, is among the several time series methods that utilize historical data in the estimation of future outcomes. This method analyzes data points through generating a succession of averages that are derived from a series of values or various segments that are successive (Chiarella, He & Hommes, 2005). Periodical data such as monthly sales may have random fluctuation every month despite a general trend being evident. Moving average helps in smoothing away these random changes (Chiarella, He & Hommes, 2005).
A moving average is the forecast for a period that takes the average of the previous periods (Chiarella, He & Hommes, 2005).The moving average takes the average of previous series collected from a preliminary fixed subset. This subset is shifted forward, hence creating a new subset of numbers. The average of this new subset is determined, and the process is replicated on the remaining data in the series (Chiarella, He & Hommes, 2005). The moving average results to the smoothing of fluctuations that are short-term and in the process underlining the long-term trends from the given data.
Among the functions of the moving average method is the identification of reversals and trends of data over a period. The method is also imperative in the determination of the levels of support and resistance (Chiarella, He & Hommes, 2005). In stock trading, the moving average is key in imparting vital trading signals, particularly by the identification of uptrends and downtrends. The moving averages are considered to be lagging indicators, per se, since they only confirm trends but do not predict new ones. There are two moving average methods that are commonly used; the simple moving average and the exponential moving average (Chiarella, He & Hommes, 2005). The simple moving average is the simple average of data such as securities spanning a number of time periods. The exponential moving average, on the converse, puts much focus on recent data compared to data relating to a past time period (Chiarella, He & Hommes, 2005).
The moving average has various characteristics. Foremost, the more the number of periods in the moving average, the greater the smoothing effect (Appel, 2012). Different moving averages produce different forecasts. Another charectiristic is that the more the randomness of data with underlying trend being constant then the more the periods should be involved in the moving averages (Appel, 2012). Moving averages, however, have various limitations. They depict equal weighing with disregard to how more recent data is more relevant. Moving average ignores data outside the period of the average thus it doesn’t fully utilise available data.Also, where there is an underlying seasonal variation, forecasting with unadjusted moving average can be misleading (Appel, 2012).
Exponential smoothing is a method that involves automatic weighing of past data with weights that decrease exponentially with time (Hyndman, 2008). Exponential smoothing has certain characteristics. Amongst them is that more weight is given to the most recent data (Hyndman, 2008). Secondly, all past data are incorporated unlike in moving averages. Less data is needed to be stored unlike in periodic moving averages (Hyndman, 2008).
Both the methods rely on time series. Time series, however, possesses various characteristics. They have a long term trend, and the tendency of the whole series is to rise and fall (Chiarella, He & Hommes, 2005). They also posess seasonal variations, implying short term periodic fluctuations in values (Chiarella, He & Hommes, 2005). Time series have cyclical variations, and these are medium term changes caused by factors which apply for a while then disappear, and come back again in a repetitive cycle (Chiarella, He & Hommes, 2005). Cyclic variations have a longer term than seasonal variations, for instance seasonal variations may occur once every year while cyclic variation occurs once every several years. Time series also have random residual variations, whereby these are non-recurring random variations for instance war, fire or a political coup (Chiarella, He & Hommes, 2005).
Differences between actual results and predictions may arise from many reasons. They may arise from random influences, normal sampling errors, choice of the wrong forecasting system or alpha value or simply that the future conditions turn out to be radically different from the past (McAuliffe, 2011). Whatever the cause, persons involved with forecating wish to know the extent of the forecast errors and various methods exist to calculate these errors (McAuliffe, 2011).
A commonly used technique, appropriate to time series, is to calculate the mean squared error of the deviations between forecast and actual values then choose the forecasting system or parameters which gives the lowest value of mean squared errors, such as akin to the least squares method of establishing a regression line (McAuliffe, 2011). Moving averages tend to be used for short to medium term forecasting (McAuliffe, 2011). Longer term forecasting is usually less detailed and is normally concerned with forecasting the main trends on a year to year basis. Other techniques could be used depending on the assumptions about linearity or non- linearity, and the number of independent variables. The least squares regression approach is often used for trend forecasting (McAuliffe, 2011).
Select an advanced professional or advanced practice nursing specialty. How has past and current regulation/legislation affected the role and scope of this nursing role? What, if any, discussions are currently underway relative to the scope and role of this specialty? What resources are available to assist nurses in advocating for these roles?
Select a professional or specialty nursing association. What impact has this organization had on health care legislation in the past 2 years?
This task is due 22nd may 2015\
SAMPLE ANSWER
Health Care: Ambulatory Care Nursing
This case focuses on ambulatory nursing, which significantly differs from other nursing specialties at the level of the scope of practice. Patient care demands change with time and adjustment in various practices in ambulatory nursing are vital. In most cases, the changes require allocation of more roles to nurses. As such, the scope of ambulatory nursing has expanded to improve patient care.
Both past and current regulations have affected ambulatory nursing from different perspectives. As Stokowski (2011) noted, the current views on ambulatory nursing are different from what used to be the understanding ten years ago. The earlier regulation allowed only a narrow scope for ambulatory nursing. Policy makers have made changes in the scope of the field to suit the current patient care requirements. Differences in health care setting have necessitated most of the changes. For instance, there are differences in the occurrence of chronic diseases, lengths of hospitalization, as well as the complexity of procedures performed on patients (Stokowski, 2011). With the new regulations, nurses can attend patients from other more different settings. They can attend patients from offices, community health facilities, homes, schools, and gastrointestinal laboratories among others (Stokowski, 2011).
There are discussions on ambulatory nursing that aim at defining the practice, and describing it in a comprehensive manner. In addition, there are discussions on relating the specialty to general practice as well as those on framework expansion. Stakeholders also address the standards of performance expected from the ambulatory nursing specialists.
To advocate for their roles, nurses use general practice as well as specialty associations. For instance, the American Academy of Ambulatory Care Nurses (AAACN) offers a platform on which nurses in the ambulatory field can discuss and express their opinions. Within the last two years, the AAACN has expressed that ambulatory nurses have a rich background in nursing and that they employ their knowledge to offer quality ambulatory services. In so doing, the association backs nurses in their practice.
The writer will have to pay attention to grammatical errors when completing this papers. APA is critical and the writer will have to clearly respond to all the items in the questions clearly in two page word document. I have included some resources for the writer to use where necessary. The writer must elaborates on all explanations and must clearly demonstrate proper understanding of the subject matter.
Dividend and Non-Dividend Stock Valuation
One primary reason individuals invest in stocks is to receive returns on their investment in the form of dividends. Not all companies opt to offer dividends to their investors, however. In their article The Dividend Discount Model in the Long-Run: A Clinical Study, the authors discuss the importance of three variables that affect the valuation of a dividend and non-dividend paying stocks. They note how valuation is influenced by the size, timing, and uncertainty of cash flows that the asset will generate for investors over its lifetime.
Use the Internet to access financial sites to find a company that does not pay dividends.
From a theoretical view, explain the merits and/or pitfalls of using the dividend growth model to estimate the stock price of a non-dividend paying stock.
Then, compare and contrast how these variables affect the valuation of a dividend paying stock and a non-dividend paying stock.
Resources.
• Article
• Foerster, S., & Sapp, S. (2005). The dividend discount model in the long-run: A clinical study. Journal of Applied Finance, 5(2), 55–75. Retrieved from Business Source Premier database.
In this study, the authors research over 100 years of historical information on one company to determine the actual share price of stocks and then compared this with the expected price, determined using dividend discount models. They find that the models accurately predict the share prices, much more so than other financial methods.
• Cardinale, M. (2007). Corporate pension funding and credit spreads. Financial Analysts Journal, 63(5), 82–101. Retrieved from Business Source Premier database.
This study explores the relationship between pension funding and corporate financial policy and how they affect stock market valuation.
• Cai, N., & Jiang, X. (2008). Corporate bond returns and volatility. Financial Review, 43(1), 1–26. Retrieved from Business Source Premier database.
After studying 10 years of corporate bond excess return volatility, the authors conclude that there is a direct relationship between volatility and idiosyncratic risk as significant predictors of corporate bond excess returns.
• Bali, T., Demirtas, K., & Tehranian, H. (2008). Aggregate earnings, firm-level earnings, and expected stock returns. Journal of Financial & Quantitative Analysis, 43(3), 657–684. Retrieved from Business Source Premier database.
In performing an analysis of methods for establishing expected stock returns, the authors conclude that earnings yield have the best explanatory power.
• Bulan, L., Subramanian, N., & Tanlu, L. (2007). On the timing of dividend initiations. Financial Management (Blackwell Publishing Limited), 36(4), 31–65. Retrieved from Business Source Premier database.
After studying the timing and significance of dividend initiations in the lifecycle of a firm, the authors conclude that certain characteristics can be used to explain the reasoning behind the timing.
• Bosch, M., Montllor-Serrats, J., & Tarrazon, M. (2007). NPV as a function of the IRR: The value drivers of investment projects. Journal of Applied Finance, 17(2), 41–45. Retrieved from Business Source Premier database.
SAMPLE ANSWER
Introduction
Dividend Growth Model is one of the fundamental concepts for analyzing and determining the average value of a company’s stock. It’s also referred to as Gordon Model. It’s utilized as a strategy for estimating investments that are based on the actual gains that have been pegged on the dividend yield. The growth model estimates the value of stock based on the current payment of dividends and the general pattern of payment of dividends over the years by the company.
One of the companies that currently don’t pay dividends is Gilead Sciences (GLD) and is one of the companies 500 SP companies.
Companies that have good dividend yields together with reasonable and better payout ratios are mostly considered safe and reliable investments that also have good income and offer better opportunities for capital growth. Generally, the dividend growth model indicates the past performance of a company. To calculate the growth model, the current dividend payout and the dividend growth rate together with the required or expected rate of return are utilized to arrive at the growth model (Brav, Graham, Harvey & Michaely, 2004).
The conventional standards are that the DDM (Dividend Discount Model) cannot be utilized to value a company’s stock that either pays very low dividends or no dividends at all. This concept is wrong; the dividend payout ratio should be adjusted to accurately reflect the changes that are expected from the growth rate. A fairly reasonable value for the firm can be thus obtained even for firms that don’t pay dividends. A company that has a high growth rate and which is not paying any dividends currently can still be rated and valued based on the expected dividend payout when the growth rate reduces or declines. But if the company’s payout ratio is not accurately adjusted or not adjusted at all to reflect the current changes in the rate of growth then the DDM will underestimate the total value of the non-dividend paying company stocks or the low-dividend company stocks paying (Bulan, Subramanian & Tanlu, 2007).
The DDM is mostly criticized on the grounds that it’s too conservative when estimating values. This notion stems from the results that are based on the value that has been determined by another value that’s more than actual present value of the expected dividends (Bosch, Montllor-Serrats & Tarrazon, 2007). For example, its mostly argued that the DDM on average does not represent the values of unutilized assets. There is no justification whatsoever that the unutilized assets cannot practically be valued separately and later added to the DDM value. However, some of the ignored assets by the DDM like brand names and their values can for all be accommodated within the models context. The model does not incorporate ways of compensating stockholders in cases of buybacks. The new version of the DDM has however countered this argument or inadequacy.
Finally, the DDM model is considered contrarian. As the market for stock increases, less stock will be undervalued using the DDM approach. This argument is not entirely true. If the stock market improves or grows its largely because of the market’s fundamentals such economic growth in the country or may be due to reduced interest rates which means that the stock values may also follow the same trend. However, if the growth trend is not due to the economic fundamentals, then the DDM would also not follow the trend, in brief, the reactions of the values of the DDM represent positions of strength and not weaknesses for the model. The model may be signaling that stock market has been overvalued in relation to the cash flows and dividends hence a cautious investor will follow the cue. The DDM provides very impressive results eventually in the long term (Foerster & Sapp, 2005).
References
Brav, A., Graham, J.R., Harvey, C.R. and Michaely, R. (2004) Payout Policy in 21st Century Working Papers, Duke University, Durham, NC.
Bosch, M., Montllor-Serrats, J., & Tarrazon, M. (2007). NPV as a function of the IRR: The value drivers of investment projects. Journal of Applied Finance, 17(2), 41–45. Retrieved from Business
Bulan, L., Subramanian, N., & Tanlu, L. (2007). On the timing of dividend initiations. Financial Management (Blackwell Publishing Limited), 36(4), 31–65. Retrieved from Business Source Premier database.
Foerster, S., & Sapp, S. (2005). The dividend discount model in the long-run: A clinical study. Journal of Applied Finance, 5(2), 55–75. Retrieved from Business Source Premier Database.
We can write this or a similar paper for you! Simply fill the order form!
Breaking the Chain: the Patient with a Communicable Disease Paper
Order Instructions:
he M6A4: Breaking the Chain: the Patient with a Communicable Disease Paper counts as 30% of your grade for this course.
We suggest that you develop and outline and use the following time-line as your guide for completing your paper:
Week 1: Review the requirements for the paper.
Week 2: Begin developing an outline for your paper.
Week 3: You should have your outline completed.
Week 4: You should be using your outline to write your paper.
Week 5: Continue work on your paper.
Week 6: Finalize your paper and submit by the end of the week.
Information on how to use the Excelsior College Library to help you research and write your paper is available through the Library Help for AD Nursing Courses page.
Information on using an outline and writing a scholarly paper is available through the Excelsior College Online Writing Lab (OWL).
If you have questions, reach out to your instructor via My Messages.
linked item M6A4: Breaking the Chain: Patient with a Communicable Disease Paper
The registered professional nurse plays an important role in infection control and prevention. The purpose of this written assignment is for you to apply your findings from evidence-based practice (professional nursing references) to a patient with an infectious and communicable disease.
Using APA format, write a six (6) to ten (10) page paper (excludes cover and reference page) that addresses the topic. A minimum of three (3) current professional references must be provided. Current references include professional publications or valid and current websites dated within five (5) years. Additionally, a textbook that is no more than one (1) edition old may be used.
The paper consists of two (2) parts and must be submitted by the close of week six (6). Each part must be a minimum of three (3) pages in length.
Choose one (1) of the following diseases:
Human Immunodeficiency Virus infection/Acquired
Immunodeficiency Syndrome (HIV/AIDS)
Hepatitis A
Hepatitis B
Hepatitis C
Pertussis
Tuberculosis
Part 1 – The Chain of Infection (minimum of three (3) pages)
Describe each of the six (6) elements in the chain of infection in terms of the disease you chose for this paper (infectious agent, reservoir, portal of exit, means of transmission, portal of entry, susceptible host). Provide supporting evidence, epidemiologic statistics, and pertinent laboratory data where appropriate.
Part 2 – Nursing Management (minimum of three (3) pages)
Identify treatment options utilized to break the chain of infection and prevent contagion for the disease you chose for this paper. Explore evidence-based practice nursing interventions when managing short-term and long-term consequences for the patient with the disease you chose for this paper. Consider and describe how the registered professional nurse would support patient adherence to these treatment options.
Compose your work using a word processor (or other software as appropriate) and save it frequently to your computer. Use a 12 font size, double space your work and use APA format for citations, references, and overall format. Information on how to use the Excelsior College Library to help you research and write your paper is available through the Library Help for AD Nursing Courses page. Assistance with APA format, grammar, and avoiding plagiarism is available for free through the Excelsior College Online Writing Lab (OWL). Be sure to check your work and correct any spelling or grammatical errors before you submit your assignment.
You are required to submit your paper to Turnitin (a plagiarism prevention service) prior to submitting the paper in the course submission area for grading. Access is provided by email to the email address on record in your MyExcelsior account during week 2 of the term. Once you submit your paper to Turnitin check your inbox in Turnitin for the results. After viewing your originality report correct the areas of your paper that warrant attention. You can re-submit your paper to Turnitin after 24-hours and continue to re-submit until the results are acceptable. Acceptable ranges include a cumulative total of less than 15% for your entire paper, and no particular area greater than 2% (excluding direct quotes and/or references).
SAMPLE ANSWER
Patient with a Communicable Disease
Human immunodeficiency virus infection/ Acquired Immunodeficiency Syndrome (HIV/AIDS) is the number one infectious killer in the world with reported 39 million deaths since the first cases were reported in 1981.The majority of people living with this disease leave in low-income and middle-income countries. (Organization, 2014, pg 16) The following report is about the HIV/AIDS and it is divided into two parts.
The first part is meant to look at the chain of infection of the disease.
Infectious agent
The infectious agent for HIV/AIDS is the human immune deficiency virus (HIV). This virus has a single strand, positive sense and the RNA virus enveloped in the genus Lentivirus .For the infection to occur, a significant amount and concentration of the virus must be present. Once in the body the virus affects one’s immune system this is through destroying a special type of cells called the T helper lymphocytes (T-cells). The T-cells are crucial in the functioning of the immune system and the immune response.HIV then replicates itself over a number of times and eventually outnumbers the number of T-cells. (Lala & Merchant, 2012, pg 39)
Reservoir
The virus leaves in the human blood or other body fluids of the infected person. In the blood the virus stays in blood cells whereby it is usually able to remain hidden within the cells. The cells after time adapt the HIV genetic code and remain invisible to the immune defense mechanisms of the body and become insensitive to the drugs. (Lala & Merchant, 2012, pg 39)
Portal of exit
The HIV leaves the body of the infected person to the body of another person through the following mediums.
Firstly, it can be through the infected blood that is if the blood of the infected person comes into contact with the blood of another person. The blood contact can occur through a number of ways for example, through blood transmission, sharing of syringes and through the transplantation of body organs and tissues with an infected person.
Secondly, it can be through the semen and other vaginal secretions. This usually occurs when an infected person has unprotected sex with another person.
Thirdly, it can be through breast milk whereby an infected mother breast feeds a baby.
Statistics show that the concentration of HIV is usually high in the blood followed by the semen and vaginal secretions then the breast milk. (Hall, Hall & Cockerell, 2011, pg 57)
Means of transmission
Transmission usually occurs when there is an interaction between the blood or body fluids of two people and one of them is infected with the virus. There a number of ways through which the infection can be transmitted and this is as follows.
Firstly, it can be through unprotected sexual contact with an infected person and this is usually transmitted through the semen, blood or vaginal secretions. Sexual intercourse can either be through penile, vaginal or rectal tissues. The risk to acquire the infection through this means of transmission usually depends on: the number of sexual partners, one has, the infection prevalence among these partners and lastly the probability of the transmission of the virus during sexual intercourse. Apart from sexual intercourse the virus can also be transmitted through deep kissing.
Secondly, it can be through the direct injection of with syringes and needles which contains HIV infected blood or blood products. This means of transmission has usually been found to be common among drug users who share such needles and syringes when using drugs such as cocaine.
Thirdly, it can be transmitted from a HIV-infected mother to the baby and this is usually through two main ways. Firstly, it can be during the process giving birth. Secondly, an infected mother can transmit the virus to the baby through breastfeeding. This occurs although, the concentration of the virus in the breast milk is minimum because the immune system of a newborn baby is usually very week.
Fourthly, the transmission can be through the transfusion of blood from an infected person to another person. The same can also be transmitted through the transplant of body organs and tissues from an infected person (Hall, Hall & Cockerell, 2011, pg 63)
Portal of entry
There are three main ways through which the HIV can enter into the body of a healthy person. For the virus to enter into the body of a healthy person, the number of the virus must be adequate to cause the infection.
Firstly, the main means of entry of the virus is usually through the blood. This occurs when the blood from an infected person comes into direct contact with the blood of another person for example, sharing of syringes with an infected person. The entry can also be through semen, for example, during sexual contact.
Secondly, the entry can be through semen and vaginal secretions. This usually occurs during sexual contact for example, unprotected sex.
Lastly, the entry can be through the skin membrane which occurs when the membrane is splashed with a body fluid from an infected person. It has been shown that the entry of the virus through this means is usually rare and accounts for less than 1% risk of infection. (Lala & Merchant, 2012, pg 41)
Susceptible host
Any person whose blood or body fluids come into contact with HIV infected blood or body fluids can become infected with the same disease. Statistics show that the people who usually have unprotected sex with a number of different people are at the highest risk of contracting HIV/AIDS. In 2013, an approximated 35 million people worldwide were living with HIV/AIDS. Out of this population, children under the age of 15 years were 240,000. (Organization, 2014, pg 16)
The second part is meant to look at the treatment options that can be used to break down the chain of infection and prevent contagion for the disease, explore evidence based practice nursing interventions when managing short-term and long term consequences for the patients suffering from the disease and describe how a registered professional nurse can support patient adherence to the treatment options.
Treatment options utilized to prevent transmission of HIV
The main treatment use to break down the chain of infection of the disease and prevent contagion is the antiretroviral treatment (ART). The treatment usually works through minimizing the number of microorganisms (HIV) in the blood, semen, vaginal and rectal fluid to an undetectable number. There are a number of options in using this treatment and this is as follows:
Treatment can be given to infected pregnant mothers and a newborn baby so at to prevent transmission through the mother to child infection. The pregnant mother and the baby is given zidovudine (AZT). It has been shown that this treatment has been able to reduce the mother to child prevention from 25% to 8%. Infected mothers using Antiretroviral drugs (ARVs) have also been found to reduce the risk of a mother to transmit the disease while breastfeeding.
The other treatment option used is the Pre-exposure prophylaxis (PrEP). This treatment usually works through people who are HIV-negative using ARV drugs before being exposed to HIV. This treatment has been showed to reduce the risk of the disease up to 92%.
Post-exposure prophylaxis treatment is also used although it is a short term treatment It usually involves using the ARV after being exposed to the virus. Initially, this treatment was used by health workers who had been exposed to infected fluids. Recently, treatment has been used on those who might have been exposed in only one event for example, in cases of sexual assault (Sachdeva & Dutta, 2012, 377)
Evidenced based practice nursing interventions
There are two types of nursing interventions based on whether the consequences are short-term or long-term.
For the long-term consequences, the following nursing interventions would be necessary;
Firstly there is the recommending of the patient to guidance and counseling sessions so as to boost their morale. This will be very useful when it comes to taking the treatment since the patient would now be able to positively appreciating the disease.
Secondly, there would be need to subject the patient to HIV/AIDS awareness education and this is so as to minimize the risk of the patient in transmitting the disease to other people.
Thirdly, the infected person should be supplied with sex protection such as condoms so as to reduce the risk of one infecting his/her spouse. There is also need of counseling the spouse of an infected person and this is also aimed at reducing the risk of infection to the spouse.
Lastly, there is the need of making the patient to appreciate the importance of the treatment that is prescribed to him/her and ensure that the patient adheres to the treatment as prescribed.
As for the short term consequences, the following interventions would be necessary;
Firstly, the nurse can conduct once in a while visits to the patient’s home so as to ensure that the patient is using drugs as prescribed.
Secondly, the nurse can prescribe preferable nutrition to the patient that will ensure that the immune system of the patient is properly working so as to prevent the patient from being infected with other diseases which are related to HIV/AIDS such as Tuberculosis (TB).
Lastly, the nurse could ensure that he/she has the contacts of the close family of the infected person and this is to help in case of any emergency or any other problem (J & S, 2012, pg 690).
Supporting of the patients to adhere to the treatments
There are a number of ways through which a registered professional nurse would support patients in the adherence to the treatment options. Some of these ways are as follows.
The nurse can conduct some guidance and counseling sessions on the patient. During these sessions, the nurse could explain to the patient the importance of adhering to the treatment and also remember to explain to the patient the danger of not taking the treatment.
The nurse can carry out some follow-up on patients. This can be achieved in a number of ways for example, through carrying out of routine visits to the home of the patient so as to ensure that the patient adheres to the treatment.
A professional nurse can keep in touch with the close family of an infected person; the importance is so as to make sure that the patient uses the prescribed treatment. The nurse has to make sure that he/she has explained to the family the importance of the infected person to take the treatment and also remember to explain to this family the danger of the patient in failing to take the treatment. (M, C & M, 2012, pg. 904). In conclusion, although HIV/AIDS has no cure it can easily be prevented once its chain of infection has been understood.
References
Organization, W. H. (2014). World Health Statistics 2014. Geneva: World Health Organization.
Lala, M. M. & Merchant, R. H. (2012). Principles of perinatal and pediatric HIV/AIDS. New Delhi. Jaypee Brothers Medical Publishers.
Please see the attached instructions for my part of the group assignment. I want this response to focus on Path Goal Theory if possible.
The instructions are very important as it needs to form part of a group assignment. Any queries please let me know
SAMPLE ANSWER
Introduction
Leadership is a crucial aspect in any given organization. This is because; the undertakings of any given business are shaped by the leadership. It is therefore crucial that the leadership in any given organization is articulated well such that there are high chances of success of the business undertakings. The leadership determines the success or the failure of the business. This paper analyses the leadership of a manager in a coffee making organization. The alignment of the leader to the path goal model of leadership has been analyzed especially in view of the strengths and the weaknesses attributed. The suggestions to the improvement have been given in respect to the improvement that would arise in the organization.
Description
The manager in this organization can be said to be the ultimate authority in this organization. He heads this coffee making organization which specializes in making coffee from the coffee seeds. This organization, (Coffee top- pseudo name) has been in success in its undertakings under the leadership of this manager. This success is denoted by the expansion of the organization in terms of its market share as well as the profits. The leadership of this manager is experienced by the different stakeholders. The employees are affected by the leadership decisions made the manager. The suppliers of the raw materials such as the coffee seeds are also affected by the leadership in one way or the other. The customers are also affected by the decisions of the manager as the ultimate leader and authority in this organization. The manager leads under some challenge. A great challenge here is the stiff competition from the other businesses of similar orientation. There has been sprouting of businesses oriented to making of coffee just like the coffee top. This has come with a lot of competition which call for articulation of responsible leadership to ensure that the organization is kept afloat.
Effectiveness with model
To some extent, the leadership of the manager in this organization can be said to be oriented to the path-goal model of leadership. This model of leadership denotes the orientation of the leader’s style and behavior such that they match the employee and work environment in a bid to achieve the goals, (Landrum & Daily, 2012). The aim of his is to make the employees become more productive members of the organization, (Johnson, Garrison, Hernez et al, 2012). This idea is based on the expectancy theory. This is whereby the employees are said to perform well depending with the expected outcome of the undertaking which depends on the excellence of their performance. On this note, when the employees are aware that their excellence performance will be appreciated with something beneficial to them, they are more likely to work harder to improve their performance, (Hayyat Malik, 2012).
The leadership of the manager of coffee top can be said to align to this model of leadership. This view emanates from the efforts observed in articulating the leadership style such that it orients towards motivating the employees, empowering them and ensuring satisfaction. Under the leadership of this manager, there has been adoption of programs that are geared towards motivating the employees. There have been establishment of channels such that the employees are able to air their views without encumbrances. This has gone a long way in ensuring that the employees are satisfied. This is because; they are able to air their grievances whenever they are not satisfied. This keeps the management informed on the demands of the employees.
Some of the efforts of the manager which have been oriented to motivating the employees and ensuring their satisfaction include the motivational package at the end of the year. This is whereby the employees are washed with gifts at the end of the year such as parties, gift hampers as well as gift vouchers. This has gone a long way in ensuring motivation of the employees and has translated to improved performance due to the expected appreciation at the end of the year.
The form of leadership
The form of leadership adopted by this manager can be said to be transformational. Transformational leadership is the kind of leadership that denotes efforts of the leader to make positive transformations in the persons being led. There are deliberate efforts made to ensure that there are positive advances made not only in the performance within the organization but also in the general life of the employees, (Rowold, 2014). The transformational leadership of the manager of coffee top is first denoted by the traits portrayed in his undertakings. The manager is energetic, enthusiastic and passionate. Those are basically traits that are associated with transformational leaders, Bruce, Avolio, William et al (2005)For a leader to be transformational they must articulate the trait of being energetic. Being energetic enables the leaders to ensure that they inspire their subjects in adopting the transformative advancements with ease. If a leader does not become energetic in their leadership, it becomes difficult to convince the subjects to adopt the transformational advancements.
In transformational leadership, there are always efforts of the leader to ensure that the employees are motivated so that they become innovative and creative for the good of the organization. This aspect is opposed to the idea of having to push the employees for every deed and for innovation. When the employees are motivated, they come up with creativity and innovation, Joseph (1968). When such aspects are displayed, it is crucial that the leaders appreciate.
In any given organization, it is crucial that that the leader is armed with leadership psychological capacities. These include confidence, optimism hope as well as resilience. These aspects are personal resources of an authentic leader. It is crucial that the leader does not engage in forcing the employees into adopting changes. There could be adoption of soft power. This is whereby; the leader has the ability to shape the preferences of the others so as to like what they like.
In order to be transformational, there must also be enthusiasm in the leader, Gregory (2003). The manager of the Coffee top organization has been enthusiastic especially in adopting the advanced technology. This enthusiasm has made him ensure usage of the advanced technology in the undertakings of the organizations. The transformative leadership of the manager can be seen in the efforts made to ensure that the employees advance in the performance and also in their general life such as in the considerations given in permitting employees to attend to their other matters when it is necessary. It is also crucial that the leader embraces the spirit of diversity. In the wake of globalization, there is need for every leader to ensure diversity in their area of duty. Different lifestyles and orientations must be embraced due to the realization of the diversity of customers. The diversity also touches on inclusion of women in the right ratios and not to show any kind of discrimination. In responsible leadership, there must also be embrace of deliberate efforts to address the practical challenges facing organization. Relevance is sought in addressing the issues because every organization is unique in its own way and therefore, solutions to problems cannot always be generalized.
This kind of leadership can be said to be effective in ensuring that there is improved performance of the employees following the consideration of their needs and ensuring that there are avenues of achieving improvement, (Dixon & Hart, 2010). This translates to higher profits which necessitate the expansion of the business.
However, it would be crucial for the manager to consider advancing the empowerment of the employees, (Gilmore, Hu, Wei et al, 2013). This aspect is associated with the goal path theory but has not been well articulated in the leadership of the manager in this organization. This aspect can be attributed to the lack of advancement opportunities in the organization. There has been noted stagnation of the level of the workers in the job such that they do not get promoted to advanced levels even after working for longer periods of time such that they deserve to be promoted.
It could be suggested that the manager as the leader in focus in this organization should endeavor to improve in ensuring that the employees are provided with opportunities for improvement. For instance, the manager could consider ensuring that the employees are provided with opportunities to venture in furthers studies so as to ensure that they improve their knowledge and skills which n turn will improve their performance, (McCleskey, 2014). At times, the employees could be presented with so much of duties to perform throughout the time such that it becomes difficult for them to engage in studies even on part time basis. This subjects the employees to stagnation in their jobs. Adoption of these kinds of changes would ensure that the organization has higher skilled employees. This would improve the performance and the profitability of the organization.
References
Bruce J. AvolioT, William L. GardnerAuthentic leadership development: Getting to the root of positive forms of leadership: The Leadership Quarterly 16 (2005) 315–338
Dixon, M, & Hart, L 2010, ‘The Impact of Path-Goal Leadership Styles on Work Group Effectiveness and Turnover Intention’, Journal Of Managerial Issues, 22, 1, pp. 52-69, Business Source Complete, EBSCOhost, viewed 20 May 2015.
Gilmore, P, Hu, X, Wei, F, Tetrick, L, & Zaccaro, S 2013, ‘Positive affectivity neutralizes transformational leadership’s influence on creative performance and organizational citizenship behaviors’, Journal Of Organizational Behavior, 34, 8, pp. 1061-1075, Business Source Complete, EBSCOhost, viewed 20 May 2015.
Gregory, A. S. (2003) Transformational versus servant leadership: a difference in leader focus Retrieved from: www.emeraldinsight.com/0143-7739.htm
Hayyat Malik, S 2012, ‘A Study of Relationship between Leader Behaviors and Subordinate Job Expectancies: A Path-Goal Approach’, Pakistan Journal Of Commerce & Social Sciences, 6, 2, pp. 357-371, Business Source Complete, EBSCOhost, viewed 20 May 2015.
JOHNSON, S, GARRISON, L, HERNEZ-BROOME, G, FLEENOR, J, & STEED, J 2012, ‘Go For the Goal(s): Relationship Between Goal Setting and Transfer of Training Following Leadership Development’, Academy Of Management Learning & Education, 11, 4, pp. 555-569, Business Source Complete, EBSCOhost, viewed 20 May 2015.
Joseph, s. (1968) The power to lead. Oxford: Oxford University.
Landrum, N, & Daily, C 2012, ‘Corporate Accountability: A Path-Goal Perspective’, International Journal Of Business Insights & Transformation, 4, pp. 50-62, Business Source Complete, EBSCOhost, viewed 20 May 2015.
McCleskey, JA 2014, ‘Situational, Transformational, and Transactional Leadership and Leadership Development’, Journal Of Business Studies Quarterly, 5, 4, pp. 117-130, Business Source Complete, EBSCOhost, viewed 20 May 2015.
Rowold, J 2014, ‘Instrumental leadership: Extending the transformational-transactional leadership paradigm’, Zeitschrift Für Personalforschung, 28, 3, pp. 367-390, Business Source Complete, EBSCOhost, viewed 20 May 2015.
We can write this or a similar paper for you! Simply fill the order form!
It is common industry knowledge that an audit plan provides the specific guidelines auditors must follow when conducting an external audit. External public accounting firms conduct external audits to ensure outside stakeholders that the company’s financial statements are prepared in accordance with generally accepted accounting principles (GAAP) or International Financial Reporting Standards (IFRS) standards.
Use the Internet to select a public accounting company that appeals to you. Imagine that you are a senior partner in a public accounting firm hired to complete an audit for the chosen public company.
Write a four to six (4-6) page paper in which you:
1. Outline the critical steps inherent in planning an audit and designing an effective audit program. Based upon the type of company selected, provide specific details of the actions that the company should undertake during planning and designing the audit program.
2. Examine at least two (2) performance ratios that you would use in order to determine which analytical tests to perform. Identify the accounts that you would test, and select at least three (3) analytical procedures that you would use in your audit.
3. Analyze the balance sheet and income statement of the company that you have selected, and outline your method for evidence collection which should include, but not be limited to, the type of evidence to collect and the manner in which you would determine the sufficiency of the evidence.
4. Discuss the audit risk model, and ascertain which sampling or non-sampling techniques you would use in order to establish your preliminary judgment about materiality. Justify your response.
5. Assuming that the end result is an unqualified audit report, outline the primary responsibilities of the audit firm after it issues the report in question.
6. Use at least two (4) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
• Plan and design a generalized audit program.
• Determine the nature and extent of evidence accumulated to conduct an audit after considering the unique circumstances of an engagement.
• Evaluate a company’s various risk factors and the related impact to the audit process.
• Evaluate effective internal controls that minimize audit risk and potentially reduce the risk of fraud.
• Use technology and information resources to research issues in auditing.
• Write clearly and concisely about auditing using proper writing mechanics.
SAMPLE ANSWER
Auditing Planning and Controls
Auditing can be viewed in a myriad of dimensions, the key determinant being the context and environment in which it is carried out. The widely accepted description defines auditing as the examination and analysis of source documents, books of original entry, books of accounts, financial statements, and other relevant accounting documents to ascertain whether they present a fair and true view of the financial performance of an organization (Robertson, 2010). Auditing is quite independent from accounting, with the aim of the latter being collecting, recording, summarizing, analyzing, classifying and interpreting financial accounting information for financial decision making by the users of accounting information (Robertson, 2010).
Auditing largely borrows from the International Accounting Standards (IAS), International Financial Reporting Standards (IFRS), Generally Accepted Accounting Principles and Standards (GAAPs), and the laws of the particular country to affirm whether the books of accounts have been maintained properly (Robertson, 2010). Owing to this, auditing is a legal requirement and it is hence mandatory for books of accounts to be audited either at the lapse of a financial year or on a systematic basis after a certain period. Auditing is meant to safeguard the interests of stakeholders and ensure that there is maximization of their value (Robertson, 2010). Auditing also helps in the minimization of the agency problem, which arises when managers work to satisfy their own interests rather than the maximization of shareholder value. Auditing also ensures tax compliance. Either the managers of a firm who are the stewards can carry out auditing internally, or an independent auditor can do it externally (Robertson, 2010).
Auditing, like many other processes, occurs in stages. The preliminary stage is the initiation of the audit, followed by the initial preparation of the audit prior to the audit being conducted. After the audit is conducted, audit reports are prepared and the audit is concluded (Pickett, 2006). In these stages, there are a number of tools used to abet the audit work. These include working papers, the permanent file, the current file, and most imperative, the audit plan (Pickett, 2006). Audit planning takes place at the commencement of the audit work, and it entails formulating a framework of how the entire work will be conducted with major focus placed on areas that are potentially significant. It encompasses the nature, scope, and duration of the audit to ensure it is performed effectively, efficiently with consideration to timeliness (Pickett, 2006).
External public accounting firms conduct external audits to assure outside stakeholders that the financial statements of the company are harmonized with the International Financial Reporting Standards (IFRS), International Standards on Audit (ISA), and Generally Accepted Accounting Principles and Standards (GAAPs). Deloitte & Touche is among several public accounting companies and one of the big four, with the other three being Ernst & Young, PricewaterhouseCoopers and KPMG (Kettle & Cooper, 2002). The company spans over one hundred countries from various continents (Kettle & Cooper, 2002).
For companies such as Deloitte & Touche to conduct effective auditing of their clients, audit planning needs to be effected. The planning of the audit will involve several steps, the first being understanding of the business a client is involved in and analyzing the entire industry (Pickett, 2006). This is followed by the assessment of the client’s business risk. Preliminary analytical procedures are then performed, and an assessment is done to determine the inherent risks and audit risks that are acceptable (Pickett, 2006). Planning further calls for the clear understanding of the internal control system, and the control risk that may be posed. The development of the audit plan and program is thereafter preceded by the gathering of information vital in the assessment of fraud risks (Pickett, 2006).
There exist performance ratios that are utilized so as to determine which analytical tests to perform. These consist of the liquidity ratios and the profitability ratios (Pickett, 2006). Liquidity ratios are concerned with how a firm is capable of meeting its short-term obligations and some of the ratios include the quick and current ratio, and the cash ratio. The accounts majorly involved are current assets and current liabilities (Pickett, 2006). Profitability ratios are concerned with the effectiveness of a firm in the generation of revenue. Some of the ratios under this category are the earnings per share (EPS) and the profit margin. These ratios deal with sales, incomes, and the share structure of a company (Pickett, 2006). The ratios aforementioned are critical in determining the analytical measures auditors should enforce while auditing a business concern.
Analytical procedures involve the analysis of relationships that exist amongst financial accounting data to identify whether they depict a significant relationship and to identify consistency (Pickett, 2006). The analytical procedures utilize relationships and comparisons to determine whether the accounting information and account balances are reasonable. One analytical procedure is comparison between client data and that of the industry, as in regards to inventory turnover (Pickett, 2006). Another analytical procedure is comparing client data and previous data of a similar period. An example is comparing the net income of the period with that of the previous period. The third analytical procedure is the comparison of client data with auditor-determined expected results (Pickett, 2006).
Audit evidence can be obtained by means of substantive testing which allows the auditor to form an opinion. Methods that can be utilized to collect audit evidence entail observation, inspection, computation, sampling, analytical procedures, inquiry and confirmation, and representations by management (Kelting, 2011). From the analysis of the financials of Deloitte & Touche, analytical procedures are preferred for collecting evidence.
As previously mentioned, analytical procedures necessitate the analysis of financial data to identify consistencies and anticipated patterns. In this perspective, financial data will be the income statement and the balance sheet of the company. This method is bound to lead to evidence that is sufficient since, being generated internally from financial statements, it relates directly to the accounting internal control system that is usually effective. In addition, evidence that has been obtained in the form of documents and written representations are deemed more reliable compared to oral representations (Kelting, 2011).
Audit risk is the risk posed to an auditor by financial statements that are materially misstated, hence resulting to the auditor giving an inappropriate audit opinion (Kelting, 2011). The audit risk model consists of the inherent risk, the control risk and the detection risk (Kelting, 2011). Inherent risk is a result of lack of effective internal controls, leading to accounts and transactions susceptible to misstatements. The control risk arises in the existence of an effective accounting internal control system. It is where a material misstatement in an account or a transaction cannot be detected or prevented by the accounting internal control system. The detection risk arises when substantive procedures executed by the auditor will not be capable of detecting material misstatements in accounts or transactions (Kelting, 2011).
Audit sampling entails the application of substantive tests or compliance procedures to accounts and transactions that are less than a hundred percent of the entire items involved (Kelting, 2011). This facilitates an auditor to come up with a conclusion concerning the entire accounts and class of transactions. Audit sampling can take two approaches; judgemental or non-statistical sampling and statistical sampling (Kelting, 2011). Judgemental sampling engages the use of the auditor’s knowledge and experience pertaining the client’s business to decide on the sample to be used without necessarily involving any statistical or mathematical tools (Kelting, 2011).
Statistical sampling on the contrary involves the use of probability theory in the establishment of the sampling size by the application of various statistical and mathematical models. The statistical sampling is the best technique in this milieu, since it is scientific and the auditor is capable of justifying selected samples. This technique is also vital in the elimination of personal bias by the auditor since the end sample selected is unbiased. The method further results to uniformity amongst various auditors, making comparisons between results possible (Kelting, 2011).
References
Kelting, W. R. (2011). Audit Planning: An empirical investigation into the timing of principal substantive tests. Arbor, Mich: University Microfilms.
Kettle, R., & Cooper, E. (2002). Deloitte & Touche. New York, NY: Vault Inc.
Pickett, K. H. S. (2006). Audit Planning: A risk-based approach. Hoboken, N.J: Wiley.
Robertson, J. C. (2010). Auditing. Homewood, IL: BPI/Irwin.
We can write this or a similar paper for you! Simply fill the order form!
Three key characteristics of heroic (unitary command) leadership
First, heroic leaders do not believe that regular people are as creative as they are. Whenever participation is proposed in the organization as a means of gathering ideas and insights from employees on a complicated problem, the firm’s senior managers will usually obstruct such activities (Wheatley & Frieze, 2010). Secondly, heroic leadership depends upon the illusion that somebody can be in control (Wheatley & Frieze, 2010). Heroic leaders consider engaging the entire system as a threat to their own control and power. In addition, heroic leaders always choose for control as well as the resulting disorder instead of inviting people in to solve complex and difficult problems. Thirdly, in unitary command, individual leaders are seen to personify corporate organizations and countries, and leadership is exercised by single individuals (Crevani, Lindgren & Packendorff, 2007).
Three key characteristics of post-heroic or shared leadership
In post-heroic leadership, the leader knows that problems are intricate. They know that to comprehend the entire intricacy of any issue, every part of the system has to be involved to take part and contribute (Wheatley & Frieze, 2010). Secondly, post-heroic leaders know that people readily support the things which they have contributed in creating; they do not expect people to buy in to projects and/or plans that were developed somewhere else (Wheatley & Frieze, 2010). The third characteristic is that in shared leadership, 2 competence areas and dissimilar personalities that complement each other are common. It could be collaboration between the CEO and chairman, or the COO and the CEO (Crevani, Lindgren & Packendorff, 2007).
Organizational advantages of unitary command perspective
One of the advantages of heroic leadership is that the leader is able to provide high control for high risk situations. Secondly, Wheatley and Frieze (2010) stated that as situations become more challenging and complicated, power has to move to the top with the leaders who really know what to do. The third advantage is that heroic leaders promise to get people from their mess and sometimes they actually have the answers to problems they face. They usually retreat into isolation with some of their advisors and try to find a quick and simple solution to an intricate problem (Wheatley & Frieze, 2010). The fourth advantage of heroic leadership is that heroic leaders believe in positive thinking – they always think positively – and this makes them to anticipate winning. They always keep their eyes on the prize and not what they would like to avoid. Anticipating positive results may sometimes result in success.
Organizational advantages of shared leadership perspective
The leaders in shared leadership perspective are frank and open enough to acknowledge that they do not know what to do; they recognize that it is actually absolute idiocy to rely only on themselves for answers (Wheatley & Frieze, 2010). Secondly, post-heroic leaders know that they can trust the commitment as well as creativity of other people in order to get the work carried out. They understand that regardless of where other people are in the organizational hierarchy, they could be as creative, diligent, and motivated as the leader, given the right invitation (Wheatley & Frieze, 2010). Thirdly, shared leadership avoids concentrating power on the hands of just a single individual. This form of leadership is particularly important when a company is faced with complex challenges which necessitate a broad set of skills that only one single person cannot possess (Crevani, Lindgren & Packendorff, 2007). Fourthly, the leaders in post-heroic leadership invest in important conversations amongst people from several divisions of the system as the most productive way of engendering new insights as well as possibilities for action. These leaders believe that people have the willingness to contribute; they encourage other people and create opportunities for others to contribute (Wheatley & Frieze, 2010). They also believe that many people want very much to find meaning as well as possibility in their functions and lives. They understand that difficult and complex problems can only be solved by involving other people (Wheatley & Frieze, 2010).
References
Crevani, L., Lindgren, M., & Packendorff, J. (2007). ‘Leadership Virtues and Management Knowledge: Questioning the Unitary Command perspective in Leadership Research’, in M-L Djelic and R Vranceanu (eds), Moral Foundations of Management Knowledge, Edward Elgar, Cheltenham, UK, pp159-176
