Assignment Internal Audit Essay Example for Free

Assignment Internal Audit Essay Q.1 Critically evaluate the qualities of an Auditor in the wake of recent scams Ans:- What should be the qualities of Internal Audit Personnel? There is no universal answer to this question. We can only generalize about the qualities of internal Audit Personnel. It has been observed that internal auditors and independent auditors often belong to the same professional organization and are subject to the same professional regulations. Hence apart from professional qualification and experiences, the qualities of audit personnel should be same. The Institute of Chartered Accountants of India (ICAI) has issued â€Å"SA-220-Quality Control for Audit Work† with an objective to establish standards on quality control as to the policies and procedures regarding of an audit firm for audit work generally, and procedures regarding the work delegated to assistants on an individual audit. The standard is equally applicable to an internal audit department also. The head of internal audit department should regularly review the quality of audit work based on the standard mentioned below. Important extract of SA 220 are given below. Important terms a) â€Å"The Auditor† means the person with final responsibility for the audit. b) â€Å"Audit Firm† mean either the partners of a firm providing audit services or sole practitioner providing audit services. c) â€Å"Personnel† means all partners and professionals staff engaged in the audit practice of the firm. d) â€Å"Assistant† means personnel involved in an individual audit other than the auditor. Audit firm 1. The audit firm should implement quality control policies and procedures designed to ensure that all audits are conducted in accordance with the standards on auditing. 2. The objectives of the quality control policies to be adopted by an audit firm will ordinarily incorporate the following: a) Professional requirements: Personnel in the firm are to adhere to the  principles of independence, integrity, objectivity, confidentiality and professional behavior. b) Skills and competence: The firm is to be staffed by personnel who have attained and maintain the technical standards and professional competence required to enable them to fulfill their responsibilities with due care. c) Assignment: Audit work is to be assigned to personnel who have the degree of technical training and proficiency required in the circumstances. d) Delegation: There is to be sufficient direction, supervision and review of work at all levels to provide reasonable assurance that the work performed meets appropriate standards of quality. e) Consultation: Whenever necessary, consultation within or outside the firm is to occur with those who have appropriate expertise. f) Monitoring: The continued adequacy and operational effectiveness of quality control policies and procedures is to be monitored. 3. The firm’s general quality control policies and procedures should be communicated to its personnel in a manner that provides reasonable assurance that the policies and procedures are understood and implemented. Individual audits 4. The auditor should implement those quality control procedures which are, in the context of the policies and procedures of the firm, appropriate to the individual audit. 5. The auditor, and assistants with supervisory responsibilities, will consider the professional competence of assistants performing work delegated to them when deciding the extent of direction, supervision and review, appropriate for each assistant. 6. Any delegation of work to assistants would be in a manner that provides reasonable assurance that such work will be performed with due care by persons having the degree of professional competence required in the circumstances. Direction 7. Assistants to whom work is delegated need appropriate direction. Direction involves informing assistants of their responsibilities and the objectives of the procedures they are to perform. It also involves informing of matters, such as the nature of the entity’s business and possible accounting or auditing problems that may affect the nature, timing and extent of audit procedures with which they are involved. 8. Audit programme is an important tool for the communications of audit directions. Time budgets and the  overall audit plans also helpful in communicating audit directions. Supervision 9. Supervision is closely related to both direction and reviews and may involve elements of both. 10. Personnel carrying out supervisory responsibilities perform the following functions during the audit: a) Monitor the progress of the audit to consider whether: i) Assistants have the necessary skills and competence to carry out their assigned tasks; ii) Assistants understand the audit directions; and   iii) The work being carried out in accordance with the overall audit plan and the audit programme. b) Become informed of and address significant accounting and auditing questions raised during the audit, by assessing their significance and modifying the overall audit plan and the audit programme as appropriate; and c) Resolve any differences of professional judgment between personnel and consider the level of consultation that is appropriate. Review 11. The work performed by each assistant needs to be reviewed by personnel of at least equal competence to consider whether: a) The work has been performed in accordance with the audit programme; b) The work performed and the results obtained have been adequately documented; c) All significant audit matters have been resolved or are reflected in audit conclusions; d) The objectives of the audit procedures have been achieved; e) The conclusions expressed are consistent with the results of the work performed and support the audit opinion. 12. The following need to be reviewed on a timely basis: a) Overall audit plan and the audit programme; b) Assessment of inherent and control risks including the results of tests of control and the modifications, if any, made to the overall audit plan and the audit programme as a result of tests of control; c) Documentation of the audit evidence obtained from substantive procedures and the conclusion drawn there from, including the results of consultations; and d) Financial statements, proposed adjustments in financial statements arising out of the  auditor’s examination, and the auditors’ proposed observations/report. Conclusion The personnel qualities required of the internal audit personnel can be summarized as follows: 1. They should possess required qualifications, training, experience and competence. 2. They should have a continuing awareness of development in the field of accounting and auditing especially internal auditing. 3. They should perform their duties with due professional care, paying due attention to the role assigned to them by the management. 4. They should maintain their professional independence. 5. They should be completely impartial and unbiased in their reporting. 6. They should possess highest quality of ethics and integrity. Q.2 What is social audit? Is social audit taken seriously by the corporate world? Give examples of corporates undertaking social audit. Ans:- The social audit is also called social responsibility audit. A business organization exists in society. Hence, it owes certain responsibilities toward society at large. As Lord Denning has observed: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ the directors of a great company should owe a duty to those who are employed by the company to see that their conditions of service are proper. They should owe a duty to the customers, to the people to whom the goods are supplied, a public duty perhaps, not to expect excessive prices. They should owe a duty also to the community in which they live, not to make the place of production hideous or a nuisance to thos MF0013 [Internal Audit and Control] Set1 Q2 Q.2 What is social audit? Is social audit taken seriously by the corporate world? Give examples of corporate undertaking social audit. Ans: Social Audit:- The social audit is also called social responsibility audit. A business organization exists in society. Hence, it owes certain responsibilities toward society at large. As Lord Denning has observed: The directors of a great company should owe a duty to those who are employed by the company to see that their conditions of service are proper. They should owe a duty to the customers, to the people to whom the goods are supplied, a public duty perhaps, not to expect excessive prices. They should owe a duty also to the community in which they live, not to make the place of production hideous or a nuisance to those who live around.† Social audit is mainly concerned with social accounting. It may be noted that social accounting is still in early stage and so social audit also. Social audit also called Social Responsibility Audit is mainly concerned with social accounting. A continuous audit is basically a perpetual audit, where auditors and his staff constantly engaged in checking the accounts throughout the year. Annual audit is done at the end of the financial year when finalization of accounts has been completed and books of accounts closed. A Balance Sheet audit is mainly concerned with the verifications of items appearing in the Balance Sheet such as share capital, reserve and surplus, current liabilities, fixed assets, current assets, investments etc in detail. Importance of the Social Policy: The phenomenal growth of Socially Responsible Funds (now 20% of funds invested in the US), the growing difficulty to attract qualified employees, and the rise of non-governmental organizations able to sue or boycott unethical businesses, demonstrate the vital importance for any business of a well designed Social Policy. The Ethics Policies will attract long-term investors, increase market shares for the ethical product, strengthen partnerships, and make the employees proud. The Labor Policies will attract and keep a qualified workforce, and increase productivity, while opening new markets (ethnic minority customers are sensitive to the anti-discrimination policies in the work place). The Environmental Policies will attract customers interested in the protection of the environment, and investors who fear the risks linked to bad environmental practices, while sometimes reducing the costs with cost-effective modifications of production processes. As for most other components of the Social Policy, serious Environmental Policies will attract Socially Responsible Funds and a qualified workforce (nobody likes polluters!). The Human Rights Policies, also, will attract Socially Responsible Funds and a qualified workforce. Its most important role, however, is defensive: to prevent boycotts or campaigns of protest that could seriously tarnish the reputation of the company accused of practicing (or being an accomplice of) human rights abuses, and the resulting falling stock prices, loss of market shares, and low-moral work force. The Community Policies will not only create roots in a local base for the company, it will also increase the productivity of the work force involved in the projects (by developing their leadership and customerservice skills, building pride and loyalty with the feeling of being useful). The Society (or Extra-Community) Policies boost not only the products linked with the policy but also the image of the company. Cause Related Marketing is extremely appreciated by customers because it makes them feel good (allowing them to support charities without spending their time or money), as long as the charities are well chosen and the percentage is not too small (or the ceiling too low). The Compliance Policies are part of the Social Policy for two reasons. First, by complying with the law, the co. demonstrates it is socially responsible. More importantly, Compliances Policies often go beyond the legal requirements, in order to show concerns for social matters (health, labor, environment, etc.). In many cases, companies build their social image by doing only slightly more than what is required by the law. Creation of a Social Policy: Most companies (if not all) already have elements of Social Policy. Often, these are independent pieces of regulation and practices. Most of the time, they are not part of a unique strategy, they are not managed by powerful senior executives, they are not reviewed before any business decisions are made, and they are not used in ways that would produce their full benefits. The first step is to have an Independent Social Audit, either Defensive (to prevent lawsuits and boycotts), or Productive (to increase productivity, market shares and long term investment). The audit will identify the stakeholders; clarify the components of a Social Policy that would address the concerns of these stakeholders at either the Defensive or Productive level, or make recommendations on the necessary measures to build the Social Policy. The company must be totally involved in the Audit. The Independent Social Audit is neither an inspection (for which the company would dissimulate important pieces) nor is it a situation where the Auditor brings his one size fits all solutions. The Auditor is only the coach of a team, composed of senior executives of the company who are working at gathering the information and finding solutions. The Auditor provides the directions, merges the information to create a whole picture of the social situation, and gives advice on the method used by the company to build its Social Policy and on its different aspects. Ultimately, it is the leadership of a company who builds its Social Policy, and then decides on the best way to run the policy (for instance, nomination of a person or creation of a department dedicated to Social Policy issues). Scope of a Social Audit The identification of the stakeholders is generally the first task of an audit. However, a Social Auditor does not study each group of stakeholders separately. Stakeholders have to be considered as a whole, because their concerns are not limited to the defense of their immediate interest. As a result, the Social Auditor will work on the components of a companys Social Policy (Ethics, Labor, Environmental, Community, Human Rights, etc.), and  for each subject, the Social Auditor will analyze the expectations of all stakeholders. The scope of the audit generally includes the following policies: Ethics: values the company vows to respect. Policies include the pledge not to participate in (nor engage in business with people involved in) a series of activities that are deemed offensive. This list of unacceptable activities often includes exploitation of children, unethical treatment of animals, damage to the environment, and dealings with undemocratic regimes or with bad guy industries (fur, tobacco,guns, etc.). Labor: creation of a working environment allowing all employees to develop their potential. Policies include training, career planning, remunerations and advantages, rewards linked to merit, balance between work and family life, as well as mechanisms that ensure non-discrimination and non-harassment. Environment: monitoring and reduction of the damage caused to the environment. For instance, policies of reduction of emissions and waste. Human Rights: making sure the company does not violate human rights nor appears as supporting human rights violators. Community: investment in its local community. Policies include partnerships with voluntary local organizations, with financial donations, donations in kind (computers for education, food and clothes for the poor), and employees involvement. The company may initiate or participate to a major project such as the regeneration of a poor neighborhood plagued with unemployment, poverty, low education and racial tensions. Society: investment or partnership beyond the community. For instance, Cause Related Marketing (partnership with a charity to market a product while giving a small percentage of the sales to the charity). Compliance: Identification of all legal obligations and of the means to comply. Policies must deal with changing rules related to its work force (Labor), its products (Health, Environment, Intellectual property, specific regulations), its administration (Business, Tax), its dealings (supplier and customer liability, Criminal actions). MF0013 [Internal Audit and Control] Set1 Q3 Q. 3 Explain the Code of Ethics for Internal Auditor. Explain them in context with blacklisting Price Waterhouse Coopers in Satyam Scam. Ans: Code of Ethics for Internal Auditor In his book â€Å"Practical Guide for Internal Audit† R.S. Adukia has scholarly explained about the code of ethics for internal auditor which is as follows: â€Å"This code of ethics sets the minimum requirements for the performance and conduct of internal auditors. This code applies to all internal auditors but does not supersede or replace the requirement on individual to comply with ethical codes issued by professional institutes of which they are members or student members and any organizational codes of ethics or conduct.† There are four main principles: 1. Integrity: The internal auditor should demonstrate integrity in all aspects of their work. Their integrity establishes an environment of trust, which provides the basis for reliance on all activities carried out by the internal auditors. 2. Objectivity: Objectivity is a state of mind that has regard to all considerations relevant to the activity or process being examined without being unduly influenced by personal interest or the views of others. Internal auditors should display professional objectivity when providing opinions, assessments and recommendations. 3. Confidentiality: Internal auditors must safeguard the information they receive in carrying out their duties. There must not be any unauthorized disclosure of information unless there is a legal or professional requirement to do so. 4. Competency: The internal auditor should make use of his/her knowledge, skills and practical experience necessary for auditor’s activity performance. They should not accept or perform work that they are not competent to undertake, unless they have received adequate training and support to carry out the work to an appropriate standard. Achieving compliance with code of ethics i) Security integrity: The internal auditor should: a) Perform his/her job honestly, diligently and with responsibility. b) Perform his/her profession in harmony with the acts and other generally binding regulations. c) Avoid any illegal activity and performing any activity discrediting the internal auditor’s profession. d) Respect the legal and ethical objectives of the organizations. e) Take care that his/her integrity should not be compromised. ii) Objectivity: The internal auditor should: a) Avoid taking part in activities or relations which may damage, or might be understood as damaging his/her unbiased assessment including activities or relations which may be in conflict with public interests. b) Avoid accepting anything that may damage or might be understood as damaging his/her objective professional assessment. c) Protect his/her objectivity against political influence. d) Disclose all substantial facts known to him/her that being undisclosed might misrepresent the conclusions on activities or events assessed. iii) Observing Confidentiality: The internal auditor should: a) Be careful when using and protecting information he/she gathered when auditing. b) Avoid disclosing and making use of the information obtained during the auditor’s activities performance in order to damage the interests of other person or organization. c) Avoid making use of the information obtained during the auditor’s activities for personal enrichment or in a way which would be in conflict with the law or which would damage legitimate and ethical interests of the organization. iv) Demonstrating Competence: a) It is a pre-requisite that all internal audit staff is aware of and understand: 1. The organization’s aims objectives, risks and governance arrangements. 2. The purpose, risks and issues affecting the service area to be audited. 3. The terms of reference for the audit assignment so that there is a proper appreciation of the parameters within which the review be conducted. 4. The relevant legislation and other regulatory arrangement that relate to the service area to be audited. b) The internal auditor should keep educating himself constantly in order to have a good command of internal audit techniques and auditor standards necessary for obtaining, examining and evaluating the information. v) Maintaining Audit Independence: Internal auditors should be independent of the activities they audit. Internal auditors are considered independent when they can carry out their work freely and objectively. Independence permits internal auditors to render the impartial and unbiased judgments essential to the proper conduct of audits. This is achieved through organizational status and objectivity. Independence stands for an internal auditor being able to take a stand and report on materiality issues, uninfluenced by any favors coercion or undue influence. Satyam’s auditors:- So what were the auditors, PricewaterhouseCoopers, doing? There was no cash within the companys banks and yet the auditors went ahead and signed on the balance sheets saying that the money was there. Not just the cash, even they even signed off on the non-existent interest that accrued on the non-existent bank balance! Auditors do bank reconciliation to check whether the money has indeed come or not. They check bank statements and certificates. So was this a total lapse in supervision or were the bank statements forged? No one knows yet. The cops have already raided the PwC office in Hyderabad, but details of what they have found are yet to emerge. The company officials said they relied on data from the reputed auditors. But PricewaterhouseCoopers, stung by this insinuation hit back at Satyam. In a statement to the media, the firm said: The audits were conducted by Price Waterhouse in accordance with applicable auditing standards and were supported by appropriate audit evidence. Given our obligations for client confidentiality, it is not possible for us to comment upon the alleged irregularities. Price Waterhouse will fully meet its obligations to cooperate with the regulators and others. (Extracted from Rediffmail.com). MF0013 [Internal Audit and Control] Set1 Q4 Q.4 As a senior audit assistant of M/s. Asutosh Associates, you are in charge of internal audit team of M/s Rajesh Technologies involved in the manufacture of plastic tubes. From the information you obtained you find the company is facing liquidity problem for the last two years. You are required to prepare working paper indicating the internal audit problems you would expect to face and how you plan to overcome them. Ans: There have been many accounting scandals over the years which resulted in more traders showing interest in learning how to analyze a companys financial statements. When companies do declare bankruptcy, it is usually because they cannot pay their debts. So let’s take a look at the importance of corporate debt and go over how an investor can analyze a company’s liquidity. Economic theory says that the mix of debt and equity in a company’s capital structure is irrelevant, that the value of a firm should be independent of its debt ratio. In the real world, companies and investors have to worry about things like taxes and the risk of default, so a companys capital structure can be relevant to its long-term survival. Long -term creditors can also put restrictions on the company such as preventing it from taking on additional debt or paying higher  dividends. Most public companies have at least some debt, and the biggest reason to take on debt is to leverage the equity (much like buying stock on margin). Return on equity is very important to investors. But the greater the proportion of debt to equity on the balance sheet, the higher the business risk. Since a lot of corporate debt tends to be short-term, there can be a real risk to the company if investors lose confidence in it. It is not unlike a run on a bank, where liabilities (loans) have a longer duration than their assets (deposits). If everyone suddenly wants their money now, the bank will not be able to meet the demand and be forced to close. That is why it is important to look at a company’s debt and liquidity. Liquidity in the option markets refers to the volume of contracts changing hands in a day. There is lots of liquidity in the options of companies such as IBM and Microsoft, since there are many buyers and sellers. However, liquidity means something very different at the company level. Here we are referring to whether or not the company has, or can generate, enough cash to keep operating if they had to pay off short-term debt quickly. Banks use liquidity analysis to assess the risk of a company not being able to repay them in the short term. Agencies rate a company’s debt according to the perceived threat of default. Still, crises periodically seem to emerge from almost nowhere to cause the sudden collapse of companies that seemed solid only weeks before. Once investors lose confidence, as companies such as Enron, Qwest and WorldCom learned, liquidity can mean the difference between survival and death. That is why investors should always take a little time to check debt and liquidity ratios before entering any trading position. Most investors are familiar with the corporate bond market. When a ratings agency such as Moody’s or Standard and Poor’s downgrades a company’s debt, this certainly causes the company’s bond holders some distress, as the value of the bonds will drop. Still, since corporate bonds are primarily long-term debt, this is not usually the source of liquidity problems (unless a large  amount just happens to be nearing expiration). No, it is usually a company’s short-term debt that gets them in trouble. When a company runs into financial problems, their debt rating is usually quickly downgraded. Investors demand a higher premium to lend to the company. If they lose confidence altogether they will simply refuse to lend at any price. If the company does not have liquid assets available, even temporary cash flow problems can quickly become life threatening. Of course, the banks most companies up in the short term. Before investors will buy commercial paper, they usually require a commercial paper back-up facility with a bank. This gives them a bit more security that they will be paid. However, this facility is not meant to be used, and drawing on it is an admission the company is having severe liquidity problems. This is what happened to Qwest about two years ago. When Qwest had trouble borrowing in the commercial paper markets, they had to draw down their $4 billion credit line with banks. It was a stop-gap measure that put off a financial reckoning for a few months, but credit agencies responded by cutting the rating on its outstanding bonds to near junk status. $4 billion is a lot of money to come up with in short time. By comparison, their market capitalization was $16.4 billion at the time, they had annual revenue of about $20 billion, and a loss of $4 billion the previous year. So one of the first ratios an investor should look at is the company’s debt to its total capital. Total capital is all their debt plus equity. This ratio should be compared with what is normal in their industry and not simply against all other businesses. The next thing to look at is a companys ability to meet its debt payments. This is measured by a ratio called â€Å"times interest earned†. Times interest earned is a company’s earnings divided by their total interest cost. For the earnings number you could choose to use EBIT (earnings before interest and taxes), or the more aggressive EBITDA (which adds back the  non-cash costs of depreciation and amortization).

Recruitment Process for Child Practitioner

Recruitment Process for Child Practitioner Summary This report talks about the recruitment process of a professional called G. It states what strengths and weaknesses she can give to her new role and how she can better herself in the setting as a practitioner. G is 20 years old and is currently studying a level 3 assessor award but also already has qualifications in level 2 health and social care and also a NVQ level 3 in childcare. G is applying for a room leader’s job in the setting see appendixes 1 and 2. The report also looks into the theories linked to practice and how G can implement these in her job role. Introduction In this report the author will explain what the recruitment process is and how It works right from the employer making the advertisement and what would be included, why we interview and give a trial in the interview and then after they are successful and the employer has gathered all relevant information they will then get an induction before starting work in the setting. Next we will discuss what G’s stability is for the post, such as her strengths and weakness, looking into the things she can bring to the setting and also looking at any problems that may arise. Then the author will discuss her potential progress, what G can do to progress in her new job and how can she plan what she is going to do. Next will be reflecting back on theory looking into individual relationships, motivation, behavior, management, leadership, group processes and managing performance Recruitment process Firstly the employer will have to make a job advertisement, including all parts of the job role and what is expected of the new employer. It will also have to state what qualifications they expect from the applicant. The job description should include at least six important factors, these being: Job title, Main duties, Role, Location, Salary and a brief of what your company does. (Marketing Donut, 2014) Then the employer will have to put the advertisement in local papers or online so that the applicant can find it. Once the applicant has assessed that they have everything they need for the job and it is what they are looking for by reading the job description like in appendix two, they will then call for an application form which they will then fill in and send back to the employer. Once the employer has assessed all applicants the ones which fit the needs if the job will be offered an interview. Once they are asked back to a structured interview the employer will examine the applica nt’s childcare knowledge, qualifications gained, practical experience and attitudes. The applicant may be asked to bring a current Disclosure and Barring Service, also known as a DBS (Gov. UK, 2014) along with your qualification certificates, three forms of I.D, one with a photo and also a current C.V. Each candidate is asked the same structured questions, their replies are noted, so that the employer can look back to find the best suited person. (Honeysucklechildcare.co.uk, 2014) In the interview it also gives the applicant an insight of the setting and how its set out this will help them to determine if the environment is right for them. At the interview the applicant may be asked to do a small trial with the children this is so that the staff can see if they work well with the children and in the setting. Once the employer picks the applicant they will firstly contact the two references that were supplied on the application form to find out information on how the applicant has worked in the past and if there has been any challenges. After they have gathered all relevant information and have their qualification certificates and their DBS they will be given an induction. Induction is the first part of the learning in setting for an employer when starting a different job. It contributes a structured start for the employees in the first weeks/months of work, which will make sure that they are sufficient enough to be left unsupervised with children unsupervised. Evidence suggests that a structured induction procedure, along with a developmental scheme will stimulate an important part in the retention of employees. (Kurtts, 2011) G,s induction will allow her to get to know all the people she will be working with and the policies and procedures of the setting it will also allow time for any relevant paperwork to be filled in. During the induction as a room leader she will be shown how to fill in all the paperwork she needs to do in the setting such as daily planners, registers, EYFS record keeping and diaries for the parents of the children. Most importantly, it will give an insight to the manager if she will cope with the job role and with the pace of the daily activities of the setting. G’s suitability G was most suitable for the job advertised, this is because it worked within what she was looking for and also her strengths fitted well into the job role, also as the job is mornings it seemed to tie in well with her weaknesses as well. Strengths She has a high attendance rate, which is strongly important as a room leader as other staff members will be relying on her not only for ratio purposes but as she is planning activities and daily duties. G is very enthusiastic and in interview showed her good positive ideas and communicated very well with the manager and also with the children and other colleagues. G will be able to bring her new ideas into the setting when it comes to planning the daily activities and outings with the children staying within the setting policies and procedures. She will be working mornings so this seems to fit in well with her lifestyle also she is still studying so working part time gives her the time she needs to continue that training. Weakness G will need some training in boosting her ability to plan activities on her own. She will also have to be overseen for a few weeks while in her trial period as she hasn’t had any responsibilities in inform parents of information, although she has had previous communication with parents in her old setting. It was previously disclosed by past employer that she seems to get moody when tired, so this seems to fit in well that she will only be working part time in the mornings. G is still in training so although she is working part time so it fits round her daily life this can also be a weakness as she may find it hard to work with such high standards and supervise everyone in her room as well as going to college and doing college work this may also delay her in doing any training that’s she may need through work. Training is regularly given at improving someone’s discrimination or cognition. (Cottrill, 1997) Potential Development for G G could progress her development by finishing her current course to her highest standards. She can also take up any opportunities that her work may give her such as higher level training and by attending all relevant training such as safeguarding and child protection as this is a requirement for all staff. (Pre-school.org.uk, 2015) G could also look into her own further education and development such as a PGCE in early childhood education and care. This will help her as this course is aimed at people who are already working with young children in early years such as nurseries. It will deepen G’s knowledge and understanding of the Early Years Foundation Stage (EYFS) she will also extend her knowledge and professional skills in observation and assessment of young childrens development how children develop while learning through play, combined with working with all parents and careers and the leadership of staff teams. These are all things G will be doing while a room leader, but with the training she can progress to a supervisor of the setting. (Shu.ac.uk, 2015) You can assess your own progress at work by specializing your goals when doing a personal development plan. (Ireland, Cure and Hopkins, 2009) All people set some goals when in a professional working environment. These goals may be only short term or semi-permanent goals. If the goals set are too overwhelming and that they will not be achieved in a time scale set, then you can set them for longer periods of time or do them one at a time. (Streetdirectory.com, 2015) Reflecting on theories Individual relationships Children learn and become independent through individual positive relationships Positive relationships help children develop because they show warmth and loving relationship with a sense of belonging. The professional has to show a sensitive and responsive relationship to the child’s needs, feelings and interests, they are supportive when a child uses their own efforts and independence. While they are regularly setting clear boundaries for the child. (Moylett and Stewart, 2012) This then leads to the attachment theory as infants have a universal need to seek close proximity with their caregiver when under stress or threatened (Prior Glaser, 2006). This being the case G should always be available for her peers and always have positive relationships with them so she can aid their development so the children can develop well and also easily be calmed with distressed or threatened. If she does not have positive relationships with the children this may hold back their best potenti al development and also when distressed they will not be calmed easily. Motivation To maximise a child’s development positive motivation will play a major part. Elton Mayos theory of motivation examined the social desires of the employee. He believed that pay alone wasnt adequate to encourage workers to put forward their best practice. He believed that the social desires of the staff ought to be taken into thought. He suggested employers treat their staff in a caring and humane way so that it demonstrates an interest within the individual so as to possess them manufacture their best work. (Silver, 2015) G can implement this in her own work as she can be well motivated towards all children and staff in setting, this then will have a knock on effect and helps them to produce their best work and also so the children can work to their best ability, giving them the best possible development outcomes. Behavior A practitioner’s behavior has a massive effect on all aspects of the setting. The main two are maintaining yourself as a professional, your behavior towards others and your job will show people how professional you are and how you come across in your job. In social learning theory Albert Bandura states behavior is learned from the setting and the practitioners through observation. Bandura also states that humans consider the connection between their behavior and its consequences. Children also observe the people around them and the way in which they behave in. (Bandura 1977). G can do this in her setting by keeping positive behaviors and by acting professionally at all times. However, she must be aware of when she gets tired she can get moody and that this behavior will have a negative effect on the children and other staff members. Management and Leadership The management can have a big impact on the whole setting from to how they professional run the setting through to communication within the setting. The manager of the setting can help the other professionals in the setting by going through personal development plans, giving good communication, Motivating the team and giving them training so they can develop. G can take up all the opportunities given to her and stick to her development plans alongside her manager. Group processes There are many ways to group process one being Bruce Tuckmans Forming, Storming, Norming, Performing team-development model this is a way of all staff members linking together to make sure their overall performance is at the highest level possible. The development model explains that because the team develops maturity and talent this establish relationships and also how the manager changes their leadership styles. Starting with a direction, moving through employment, then collaborating and finishing authorisation. (Bonebright, 2010) G can do this with her other staff members so that as a team they can perform to the best they can. Managing performance One way of managing performance is to have a performance management, this is a way of approaching the setting through supporting workers to perform well and develop in their roles. Things like appraisal, outlined objectives, supervising and feedback will modify a shared understanding and agreement of expectations. This then permits workers to develop their skills and ability so that they can improve the standard of the training and care provided within the setting. An effective performance management system will encourage staff to recognise as well as rewarding achievements, whereas providing opportunities for individuals to develop their careers. Positive communication is additionally integral to support and inspiring staff so that it enhance their performance. (Dnn.essex.gov.uk, 2015) G can take on board how she supports the staff members in her room and give them feedback at team meetings on how they can improve themselves. References Bandura, A. (1977). Social Learning Theory. Englewood Cliffs, NJ: Prentice Hall. Bonebright, D. (2010). 40 years of storming: a historical review of Tuckmans model of small group development. Human Resource Development International, 13(1), pp.111-120. Cottrill, M. (1997). Give Your Work Teams Time and Training. Academy of Management Perspectives, 11(3), pp.87-89. Dnn.essex.gov.uk, (2015). Early Years and Childcare Provider > Information for Managers > Managing Staff > Performance. [Online] Available at: http://dnn.essex.gov.uk/eycp/InformationforManagers/ManagingStaff/Performance.aspx [Accessed 6 Jan. 2015]. Gov.uk, (2014). Disclosure and Barring Service (DBS) checks (previously CRB checks) GOV.UK. [Online] Available at: https://www.gov.uk/disclosure-barring-service-check/overview [Accessed 13 Dec. 2014]. Honeysucklechildcare.co.uk, (2014). Recruitment. [Online] Available at: http://www.honeysucklechildcare.co.uk/4.html [Accessed 28 Dec. 2014]. Ireland, B., Cure, R. and Hopkins, L. (2009). Perfecting your personal development plan. Vital, 6(2), pp.40-41. Kurtts, S. (2011). Successful induction for new teachers: a guide for NQTs induction tutors, coordinators, and mentors. Teacher Development, 15(1). Marketing Donut, (2014). Six things you need to include in a job description. [Online] Available at: http://www.lawdonut.co.uk/law/employment-law/recruitment-and-employment-contracts/six-things-you-need-to-include-in-a-job-description [Accessed 28 Dec. 2014]. Moylett, H. and Stewart, N. (2012). EYFS Development Matters. 1st ed. London: Early Education. Pre-school.org.uk, (2015). Safeguarding | Advice and resources | Pre-school Learning Alliance. [Online] Available at: https://www.pre-school.org.uk/providers/support-and-advice/430/safeguarding [Accessed 3 Jan. 2015]. Prior, V. and Glaser, D. (2006). Understanding attachment and attachment disorders. London: Jessica Kingsley Publishers. Silver, F. (2015). Three Major Theories of Motivation. [Online] Business Entrepreneurship azcentral.com. Available at: http://yourbusiness.azcentral.com/three-major-theories-motivation-1260.html [Accessed 6 Jan. 2015]. Shu.ac.uk, (2015). Print version | PGCE Early Childhood Education and Care (0-5) with EYTS (graduate employment route) Part-time course. [Online] Available at: http://www.shu.ac.uk/prospectus/course/1279/print/ [Accessed 5 Jan. 2015]. Streetdirectory.com, (2015). Assessing Your Progress At Work. [Online] Available at: http://www.streetdirectory.com/travel_guide/190857/careers_and_job_hunting/assessing_your_progress_at_work.html [Accessed 5 Jan. 2015]. Appendix One Job Specification Appendix Two JOB DESCRIPTION JOB TITLE: Room leader JOB LEVEL: 3 Job Description Room Leader To be a leader of a team, providing an emotionally secure, warm, stimulating and safe environment, appropriate to the needs of individual children. There must be excellent knowledge of the Early Years foundation stage and implement these in your daily work. This is a basic job description that must be implemented at all times, extension of this job description is essential to promotion and enhancement within the setting. Main Duties and responsibilities Over viewing planning sheets and record keeping of all the staff in your room Ensuring routines are followed Ensuring new decisions are taken on board Ensuring all staff in the room know all information needed Ensuring that all policies and procedures are being followed by all staff Being a role model to the other staff in your room Understanding all policies and procedures of the nursery Manage staff effectively, ensuring ratios are maintained throughout the setting Overseeing the professionalism of all staff in the setting Welcome all children and parents to the nursery Provide a wide range of activities for the children individually and as a group appropriate to their needs and developmental stages. Putting out and setting up the nursery and storing away equipment appropriately. Encourage all the children with their language development Maintain a clean and tidy nursery and garden area and ensure all equipment and toys are clean and in good order. Encourage and supervise clearing and tidy up time Provide a high standard of health and hygiene Change nappies and encourage children with toilet training and personal hygiene Help children at meal times and then tidy and clear away afterwards Act as a key person for a group of children as allocated by the management team, ensuring attachment theories are respected. Work in partnership with parents, consulting and sharing information with them about the needs and progress of their children Filling in all the appropriate records for your key children and ensure they are always up to date Attend all staff meetings To undertake all training and give feedback to the other members of staff also implement this in your work Ensuring all staff stick to the policies and procedures of their setting. Page 1 of 15 Pin 1320743Central Bedfordshire College

Exposing Capitalism in Upton Sinclairs The Jungle Essay -- Sinclair J

Exposing Capitalism in The Jungle      Ã‚  Ã‚  Ã‚   While the works of Upton Sinclair are not widely read today because of their primacy of social change rather than aesthetic pleasure, works like The Jungle are important to understand in relation to the society that produced them.   Sinclair was considered a part of the muckraking era, an era when social critics observed all that was wrong and corrupt in business and politics and responded against it.   The Jungle was written primarily as a harsh indictment of wage slavery, but its vivid depictions of the deplorable lack of sanitation involved in the meatpacking industry in Chicago resulted in public outrage to the point where Congress passed the Pure Food and Drug Act and the Meat Inspection Act.      The Jungle is a product of the era when industry was rapidly evolving and millions of immigrants came to America, the perceived land of milk and honey.   What they often found instead were a lack of jobs, low paying jobs in deplorable conditions and the realization that the American dream was not equally accessible to all.   In the novel Sinclair denounces in brutal prose the deplorable conditions of the Chicago stockyard where the men and women workers are diminished to a level lower than the dumb beasts they must slaughter in the fields.   Many immigrants were forced to accept such conditions and low wages because they did not have other options.   Jurgis wrestles with this dilemma when he thinks of turning down a job in the lowest of all occupations, a fertilizer plant worker, "As poor as they were, and making all the sacrifices they were, would he dare to refuse any sort of work that was offered to him, be it as horrible as ever it could?   Would he dare to go home and eat bread tha... ...llows Sinclair to tack on an optimistic ending where often in life none was found.   Like Steinbeck's The Grapes of Wrath, the ending of Sinclair's novel is a victory for the common man, the working class man and woman who were so great in number, so indomitable in spirit, and so determined to survive that there was no force of oppression too great to be surmounted, "...then we will begin the rush that will never be checked, the tide that will never turn till it has reached its flood-that will be irresistible, overwhelming-the rallying of the outraged workingmen of Chicago to our standard!...We shall bear down the opposition, we shall sweep it before us-and Chicago will be outs!   Chicago will be ours!   CHICAGO WILL BE OURS!" (Sinclair   341). Works Cited Sinclair, U.   The Jungle.   (7th printing).   New York: The New America Library of World Literature, 1964.

Police Blunders In The Manson Investigation :: essays research papers

Police Blunders in The Manson Investigation On August 10, 1969 the headline "Actress Is Among 5 Slain at Home in Beverly Hills" appeared on the front page of the New York Times (Roberts). This was the beginning of a investigation of police error which prolonged the arrest of Charles Manson. There were several people who claimed they had heard gunshots and screaming in the early morning hours of August 9. Mrs. Kott, who lived at 10070 Cielo Drive, heard three or four gunshots at what she guessed was to be about twelve thirty to one o'clock a.m. after which she heard nothing. About three quarters of a mile south of the murder scene, Tim Ireland was having an over night party at the camp of which he was a counselor. Everyone had gone to bed when Tim awoke to a man's voice screaming "Oh, God, no, please don't! Oh God, no, don't, don't, don't..." (Bugliosi & Gentry 4). At this time, about twelve forty a.m., he awoke his supervisor, told him about the scream, and requested that he go see if anyone needed help. He drove around the area but saw nothing unusual. Robert Bullington of the Bel Air Patrol was in his parked car when he heard three gunshots spaced a few seconds apart. He immediately called in to headquarters (the call logged in at 4:11 a.m.). Headquarters then called in to LA PD but nothing further was done. About four thirty paperboy Steve Shannon, who hadn't heard anything the previous night, noticed what looked like a telephone wire hanging over the front gate and a bug light on near the house. Mr. Kott also noticed the wire when he went out to get his paper at about seven thirty that morning (Bugliosi & Gentry 4-5). Winifred Chapman, the housekeeper for 10050 Cielo Drive, arrived at the house and also noticed the wire hanging at the gate. She first thought the power was out but then she pushed the button to open the front gate and it did. She began to walk up the driveway when she noticed that there was an unfamiliar automobile in the driveway. She figured, though, that it was only a visitor and continued toward the house. When she entered, she picked up the phone and the line was dead. Thinking she should inform someone, she entered the living room where she noticed two blue trunks which were not there when she left the previous night. A closer look saw that there was blood on the trunks. There was blood scattered about in the living room.

Gender Stereotyping in TV Commercials Essay

Stereotyping is basically relating a certain behavior or actions to a certain sector of the society or a certain group of people. It dictates how a person or a group is supposed act or respond in front of the society. It tells what behavior by a particular group is acceptable to the society. Such labels or tags are put by us humans itself. Gender stereotyping is when we relate certain manners or conduct to men and women. For example, men are the bread earners of the house and women are home makers. Such stereotypes are created by the society and the general behavior portrayed by them. Today gender stereotyping is extensively used in television commercials. This is mainly done to attract viewers to buy their product. Female stereotypes are mostly used in TV advertisements. Women are usually portrayed as sex objects in commercials. They are portrayed as â€Å"decoratives† in various promotional strategies. They are shown as desirable women to attract the male crowd. They are used more in those commercials which advertise products used by men. For example axe, addiction, etc. They are also shown with minimal clothing. Women are also portrayed as housewives only. In advertisements like Saffola oil, Maggi, Everest masala, etc. t is always the woman who is cooking, etc. Women are shown as people with lower status than men. They are the ones who are washing dishes and clothes in ads like Vim and Surf Excel respectively. Most successful women portrayed on television are always shown as fair and young women. Duskier women are very rarely shown in ads. Fair & Lovely ads are a great example. They demonstrate that any and every woman can become fair after using their product. The end result is shown as them turning fair and becoming successful or popular. They stereotype that women must always be fair and pretty to be successful. Male stereotypes are less used as compared to female stereotypes. They are usually portrayed as more successful and powerful. Men are usually well dressed in TV commercials. They are shown to have more poise and status in the society. Mostly only handsome and good looking men are used to sell products to women. Men are stereotyped to be the ones to lead the society ahead with their charm and personality and success. It has been tried to avoid such stereotyping by a lot of advertisers but at the end of the day the viewers get attracted to such advertisements only. Companies generate more revenue but such advertisements.

Inventory Stratification Essay

Creating shareholder value is the ultimate goal of all businesses, so all processes should be directly tied to it.(1) The wholesale distributor’s core business process framework is a collection of process groups called 7S – source, stock, sell, ship, supply chain planning, and support services. Linking these process groups to shareholder value are the process metrics – percentage of slow moving inventory; and the financial framework. This framework consists of the financial elements – inventory; the financial key performance indicators – GMROII; and the financial drivers – profitability. Inventory stratification is a specific business process under the inventory management subgroup in the stock process of 7S. Like most processes there is a common, good, and best practice for inventory stratification. Inventory stratification which includes the GMROII (gross margin return on inventory investment) method of A, B, C, D, X and Y items is consider ed best practice. A, B, C, and D represent items in inventory ranked by percentage of profitability from higher profitability down to zero profitability respectively. X and Y represent items with zero inventories, X represents items with gross margin dollars and Y represents items without any gross margin dollars. GMROII focuses on the items profitability making it a financial driver and is considered best practice. However, for optimal inventory stratification solutions, the final rank should include a combination method of the GMROII method; sales volume method – representative of customer-centric data; and the hits method – representative of logistics based data. Once the weighted combination data is compiled, best practices can be implemented throughout all the 7S process  groups and in every section of the financial framework linking inventory stratification (process) directly to four financial drivers: asset efficiency, profitability, cash flow, and growth. These four financial drivers increase ROI (shareholder value). With inventory stratification complete sourcing has integral data to complete best practice process metrics for supplier management. Supplier stratification can help a firm modify their supplier base into one that is profitable and efficient for all channels within the supply chain. Supplier scorecards can be created which leads to numerous financial elements being increased. Inventory stratification is key for best practice levels in determining the right number of suppliers as inventory stratification status of the product in terms of movement and profitability. This indirectly defines the required customer service level as well. With supplier performance improvement, higher satisfaction rates evolve both with the distributor and further more with the customer.. If the distributor is tracking the supplier’s performance and is able to having periodic meetings with their supplier’s based on the results of the scorecards this will drive efficiency and supplier performance improvement. Also, higher supply chain reliability occurs since the supplier knows where the distributors need increased satisfaction levels to be able to continue servicing their customer at high standards. If the scorecard says the supplier is lacking in the area of competitive pricing the distributor then has the data to begin price negotiations. This knowledge allows sourcing through the subgroup supplier management to eliminate suppliers who only provide C and D items finding the right number of suppliers for the organization. Eliminating C and D items reduces inventory and increases GMROII. You now have the option of reinvesting the resulting capital into A and B items, paying back loans, or other business opportunities. In the debt reduction case, the impact can be readily seen on the balance sheet. The investment in A items leads to further sales opportunities. The reinvestments and its associated expected inventory turns will help in calculating additional revenue and resulting improvement in EBITDA. Reinvestments can also be for capital purchases to position the business for future growth. Inventory stratification also affects the ship and store segments of the 7S process group. With the knowledge that can be obtained from the data slow moving items can be  removed from branch inventory and a Regional Distribution Center (RDC) may be implemented. This allows the branches to carry more A or B items, or simply to reduce their inventory cost. RDC’s are usually able to operate with less inventory by sales volume. Labor expense is also reduced driving profitability to the shareholders. Inventory stratification is the primary driver for sales forecast and helps populate fill rates by rank. Forecasted demand combined with lead time and safety stock is the primary component to reorder point. Inventory stratification minimizes the normally time consuming forecast process both with information systems resources and with human resources. The best practice forecasting model is driven off the inventory stratification and is therefore driven by the sell segment, this numerically factual forecast will be void of the emotional forecasting of the sales force. Marketing can use the inventory stratification to process what customers’ needs are or what customers are interested in. Inventory stratification is integral in both customer stratification which once completed and redeployment of the sales force has occurred additional revenues are recognized and cost to serve are reduced again driving profit to shareholders. Customer service often drives large, inefficient inventories in an attempt to be all things to all people. Shareholder value seeks to carry only profitable products, at reasonable levels, producing maximum sales, while also increasing market share. Inventory stratification is an integral part of this process. (1) Optimizing Distributor Profitability: Best Practices to a Stronger Bottom Line, by Senthil Gunasekaran, Pradip Krishnadevarajan, F. Barry Lawrence, NAW Institute for Distribution Excellence 2009.

A Portrait of the Artist as Filipino Essay

†Bitoy Camacho, an old friend of the Marasigans, pays them a visit one afternoon after many years of absence. He is greeted by the two daughters of Lorenzo Marasigan, a famous painter, who in his declining years has been living in isolation and abject poverty. Recently, he finished his latest and perhaps last major work of art, a painting he entitled Portrait of the Artist as Filipino. The sisters Paula and Candida welcome Bitoy. They reminisce about the past and the good old days. Tony Javier, a young musician renting a room in the house, comes home from work and is surprised. Tony confides to Bitoy his frustrated efforts in convincing the sisters to sell the painting to an American client. †In the second act, Don Lorenzo is visited by Manolo and Pepang–the older brother and sister of Candida and Paula. They plan to transfer their father to a hospital and sell the house. They have invited Don Perico, a senator to convince their younger sisters. Don Perico appeals to both sisters to donate the painting to the government in exchange for a handsome pension that would relieve them of their burden. The sisters remain firm and indifferent during the debate the senator is forced to examine his life realizing too late that he has betrayed his true vocation as an artist-poet. Forlorn and devastated by remorse, [the senator] bids the sisters farewell. †Manolo and Pepang quarrel with their younger sisters [who] are forced to reveal why their father painted the picture. They had confronted him a year before, and in pain accused him of having wasted their lives. As a reaction, he painted his last work of art and then attempted to commit suicide. †Alone, Candida tells Paula of her frustration in job seeking. Tony Javier rushes in with news about his American client who has doubled his offer [for the painting]. In a moment of weakness, Paula abandons the house and joins Tony. †The third act begins with Bitoy remembering the Octobers of his youth and the feast of La Naval de Manila. A group of visitors to the Marasigan home inquire about rumors that the painting and Paula have disappeared forcing Candida to admit what happened and accuses herself of masterminding the crime. Paula enters and admits to having destroyed the portrait. Crushed, Tony accuses the two women of condemning him back to poverty. He leaves cursing them. In the meanwhile, the two sisters reconcile and reaffirm their decision to remain in the house with their father. Bitoy in a monologue ends the play with a prayer deciding to dedicate his life to the preservation of Intramuros and its historical past through art and memory.†